Tees Valley Regeneration - Top firms commit to huge investment at Stockton

Plans to transform a stretch of riverside at Stockton’s North Shore have taken a huge step forward with the signing of a developer agreement.
AMEC and Urban Splash have now signed on the dotted line to make a commitment to the project - one of Tees Valley Regeneration’s flagship schemes - that will see the 56 acre site reborn.
The venture will mean a huge boost to the local economy and the creation of around 2,500 jobs.
The developers’ plans for North Shore mean private investment of £210m and will see the area enhanced by a mixed use development including everything from homes and offices to leisure facilities and a hotel.
As a whole the £300m scheme will also include new facilities for the University of Durham, on top of the investment already made in the road access and infrastructure.
Now the legal contractual processes have been completed it means the team can get on with the job in hand – building a top quality, head-turning, waterfront showpiece for the people of Stockton.
Joe Docherty, chief executive of Tees Valley Regeneration, said: “AMEC and Urban Splash are two of the biggest and most respected names in the business and I think the team here at Tees Valley Regeneration has put together a great package.
“Lots of cities would have loved AMEC and Urban Splash to get together to redevelop their towns so we are delighted it's happening here in the Tees Valley at Stockton for the first time.”
“North Shore stretches across 1km of riverfront and will be a fantastic place to live and work. The project is a huge undertaking with 480 new homes, 66,000 sq m of office space, a hotel and shops to service the area and it will be great to see it grow before our eyes over the coming years.
“Despite the fact that a lot of preparation has already been done – the land has been prepared, the infrastructure is in place and the legal agreements are signed – it is now the really hard work begins!”
Simon Gawthorpe, managing director, Urban Splash Yorkshire said: “We are pleased to have reached this significant stage on the long journey to deliver North Shore. We hope to create an exciting destination which is a both a true extension of the Stockton town centre and a commercially sustainable regeneration scheme for the town and the wider area.
“North Shore is our first project in joint venture with Amec Developments Ltd and we are all looking forward to delivering our shared vision.”
AMEC regional director, Mike Smith said: “Detailed design of the first phase consisting of commercial and residential accommodation will begin shortly, and we have been delighted to see just how much interest the scheme is generating both locally and nationally.
“There is no doubt that North Shore will further add to the continued renaissance of the Tees Valley. With the support of our public sector partners, we are looking forward to delivering an exemplar scheme that will really help to put Stockton on the map.”
Steve Gawthorpe, area director for English Partnerships, the Government’s regeneration Agency said: "English Partnerships has invested more than £20m in the assembly, reclamation and servicing of this site.
“We are therefore pleased that a development partnership of the calibre of AMEC and Urban Splash has been secured to bring forward the regeneration of North Shore.
“Together with the announcement of Bioregional Quintain as developer for Middlehaven in Middlesbrough, we are now beginning to see a major change in the fortunes of Tees Valley."
Councillor Bob Gibson, leader of Stockton Council, said: "This is a major step forward for the future of North Shore - a development fundamental to the long term success of Stockton as a keystone of both the regeneration of Stockton's town centre and the Stockton - Middlesbrough Initiative."
John Holmes, director of Regeneration and Tourism at One NorthEast said: "This is a clear indicationthat North Shore is moving forward which will ultimately benefit not only Stockton and the Tees Valley but also the wider region as this innovative project will undoubtedly boost the profile of the area.
"AMEC is responsible for impressive developments at Newcastle Quayside and Walkergate in Durham while Urban Splash has expressed an interest to develop in North East England for several years so we are delighted they chose North Shore to demonstrate their innovative work and welcome them to the region.
“Together they will ensure North Shore lives up to the promise of being an inspiring development which takes advantage of a prime location on the river-front and will not only create jobs and economic regeneration but will also be home to unique enviable designs that others aspire to."

Email: Rachael.Heath@coolbluebrand.com