Clearance and infrastructure works are well underway at Bank House, a high – quality office scheme to redevelop the prominent former Bank of England city centre gateway site in Newcastle.
Initial works involved breaking out the three-storey underground vaults and bullion runs beneath the former bank – a mammoth task to break through reinforced concrete in some places several metres thick.
Taras Properties is investing in the construction of Bank House, a 14 storey,120,000 sq. ft. Grade A. landmark office building, with complementary ground floor retail uses, which will form the catalyst for the wider East Pilgrim Street Regeneration Area development proposals.
The site was home to the Bank of England building, constructed in the late 1960s, but which lay empty for several years before being demolished in 2012. This new construction, which started on site in mid- October, is scheduled to complete in Spring 2023.
B+K Contracts Manager, Michael Johansen, said: “This early part of the project has proved really interesting to the whole site team. We have broken out three floors down and uncovered enormous vaults and tunnels which enabled the bank to take deliveries discreetly.
“Going forward this project will play a huge role in revitalising this area of the city and we are delighted to have been appointed main contractor by Taras Properties.”
Roger Thornton of Taras Properties comments: “We are very pleased to have started work. Bowmer + Kirkland have made excellent progress since commencing on site and over the coming months there will be very visible changes to the site. We continue to work with Newcastle City Council on various matters and appreciate their support. Once complete, Bank House will be a significant contribution to the Newcastle office market.”
Councillor Ged Bell, Cabinet Member for Employment and Culture, Newcastle City Council said: “Hailed a catalyst for the wider regeneration of East Pilgrim Street, signature projects like this form part of our wider plans to kick-start our city centre transformation, accelerate growth and create jobs for our people.
“This major step forward for Bank House signals confidence for the future, with this £100m gateway and route into the heart of our city playing a vital role in the recovery and revival of our urban core. It will help us to create a destination that brings communities and businesses together, encouraging greater footfall to support all sectors.”
“Our city centre is the economic, cultural and leisure hub of the North East and we want to further establish our city as a European destination of choice for both people and businesses. We will continue to deliver signature projects and interventions that help us to create a place where businesses can thrive, and that people are proud to call home.”