Securing £5m from the Regional Growth Fund, NE1 worked with Newcastle City Council, Network Rail and Virgin Trains East Coast to invest £24.5m in transforming the station, public realm and welcome to the city. Now, Newcastle provides a welcome to the 7m annual visitors to the station that demonstrates the city’s position as a major European regional capital city.
Newcastle has benefited from the grade 1 listed station since the building was opened by Queen Victoria. This said, the quality of arrival had significantly diminished over the decades and all involved parties recognised the need to invest in bringing the station back to some of its former glory. Notwithstanding this, it was only when NE1 was able catalyse a redevelopment project, working with Newcastle City Council, Network Rail and Virgin Trains, that the city was given the modern station it deserves as a European regional capital city.
Crucially, the project opened access to the Stephenson Quarter development site to the rear of the station which will inject £100m per annum in to the region’s economy and create 2,000 jobs. Beyond this, the renovation of the station and surrounding area has already resulted in an additional £10.7m private sector investment and has led to a second phase worth £12m.
- £100m per annum added to regional economy and 2,000 jobs created when Stephenson Quarter is complete
- £24.5m combined investment between NE1, NCC, Network Rail and Virgin Trains East Coast
- £10.7m further private sector investment
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Newcastle is a European Regional Capital city. It is home to world leading businesses in the industries of health care, medical research and digital and has a strong professional services sector. It has a catchment area of 2.5million people and the highest growth rate of millionaires in the UK.
Securing £5m from the Regional Growth Fund, NE1 worked with Newcastle City Council, Network Rail and Virgin Trains East Coast to invest £24.5m in transforming the station, public realm and welcome to the city.
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