‘Symbolic’ milestone for £120m Durham regeneration set to create thousands of jobs
A central development in the heart of Durham City has made progress with the installation of a 68m lifting tower crane.
The £120m Milburngate regeneration is set to enter its first phase with the installation of the crane at the six-acre site.
Situated on Durham’s riverside, the Saez S-65 crane will be positioned at the location of the planned Everyman boutique cinema, with construction to be completed around the base of the crane.
In addition to the four-screen cinema, the first phase of the project will also feature a 92-bed flagship Premier Inn Hotel along with bars and restaurants such as Bar + Block and Miller & Carter.
The development - a joint venture partnership between Arlington Real Estate and Richardson and supported by a £120m forward funding commitment from LaSalle Investment Management - will also include 53,701sq ft of Grade A office space within One Milburngate, as well as 153 built-to-rent residential properties.
Cllr Carl Marshall, Durham County Council’s cabinet member for economic regeneration, said: “Anyone who drives through Durham cannot fail to notice the arrival of the tower crane. It’s a particularly symbolic addition to the city’s skyline as it marks the start of phase one of the Milburngate development, which will bring more than 400 new jobs to Durham.
“Over the next 10 years, we’re expecting to see £3.4bn of investment in the county, creating more and better jobs through developments such as Milburngate.
“By continuing to provide an environment that attracts investment and supports growth, we hope to be able to support the creation of 30,000 new jobs across County Durham during the next 15 years.”
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