Downing expects to be able to name the preferred operator for the hotel element of the scheme within the next month. It is also in talks over a 100,000 sq ft letting at one of the office buildings.

Downing’s plans for the £200m project include:

- 200,000 sq ft of commercial space across two new office buildings of which Newcastle University have taken 100,000 sq ft pre let.
- A 200-bed hotel 
- 24 residential apartments 
- A 462-bed student village 
- Landscaped public spaces
- 10,000 sq ft of retail space at ground floor level
- A new road linking the scheme with the Science Central development
- Four levels of basement car parking accommodating up to 190 vehicles

Downing acquired the site in February 2004. Since then it has been involved in an extensive consultation with Newcastle City Council, CABE (the Commission for Architecture and the Built Environment) and key stakeholders, to bring the project to fruition. A nine-month, £150,000 public consultation exercise was carried out in 2006.

The site is bounded by Gallowgate and Barrack Road to the east, Wellington Street to the west, with Pitt Street and St James Boulevard forming the north and south boundaries.

The landmark buildings have been designed by acclaimed firm Ian Simpson Architects and are all clad in modern iconic materials including steel and glass.

Storeys:ssp has been appointed as agents for the commercial element of the scheme.

Harry Shipley director of planning at storeys:ssp, said: “We are delighted to have helped deliver this project and will take some pride in seeing these magnificent buildings replace the existing derelict structures.”