UK: The former Allied Irish Bank building in Newcastle city centre will be converted in to serviced apartments, a bar and restaurant.
The Collingwood Street building has been the subject of a number of planning applications over the last five years, with luxury apartments, offices and restaurant chains all planned for the site.
Now, nine years after the bank vacated the building, the property will be converted. 12 serviced apartments will be built on the first and third floors, alongside plans for an onsite concierge, gym and cycle storage, as well as a third-floor extension to the rear.
Developer Portland Real Estate Group has appointed a main contractor to carry out the redevelopment. Construction work will start imminently with the occupiers and guests expected to be welcomed towards the end of the year.
Nort-east planning firm Hedley Planning Services has worked with Portland Real Estate Group to secure approval for the development from Newcastle City Council’s planning committee.
Managing director Sean Hedley said: “This is great news, bringing a well-known site in an attractive location back into use and securing its long-term future. The new development with its nearby transport links and easy walking distance to a range of facilities and services, will significantly contribute to the vibrancy and vitality of the local economic sector.”
Mohsin Rashid, director of Portland Real Estate Group, said: “We are delighted to secure planning permission for this exciting project and now look forward to getting our plans underway on a prestigious project that will see the transformation of a great city centre location. Redevelopment will rejuvenate a site that has been left vacant far too long and see it become a well sought-after location, where people can stay and experience the best the city has to offer. We would like to thank the local authority, listed building and consultants who have all aided in bringing this project to life. Their input and experience have been invaluable.”
