Sunderland AFC owner Stewart Donald and Kevin Ball hail 'fantastic' new £100million investment on former Vaux site
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Global firm Legal & General has revealed plans to deliver three new office buildings on the city centre site to attract more firms and jobs to Wearside.
City leaders say they hope the announcement will not only help transform the Vaux site but also provide a much-needed boost for the High Street and wider Riverside regeneration blueprint which would also see more homes on the banks of the Wear.
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Hide AdThe news has also been welcomed by SAFC chief Stewart Donald and club legend Kevin Ball.
Legal & General’s investment will see three new commercial buildings constructed, comprising up to 300,000 sq ft of Grade A office space and including the new Sunderland City Hall.
Nigel Wilson, CEO of Legal & General, said: “ We hope our investment today will accelerate regeneration plans for Sunderland, attracting further capital to support the vast potential of this city.”
Chief Executive of Sunderland City Council, Patrick Melia, said the investment represented a ‘serious vote of confidence’ in the city and waken a ‘sleeping giant’.
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Hide AdHe added: “Make no mistake, today’s announcement is the single most significant investment story to come out of Sunderland for decades.”
Stewart Donald, chairman of Sunderland AFC, said: “It is fantastic to see such forward-thinking development for the former Vaux site, which is such a significant and prominent location within the city.
“Development on the Vaux site will most certainly be beneficial to the club as it will help to bring the city centre and the stadium closer together and we’re looking forward to seeing the innovative plans come to fruition.”
Former Black Cats skipper and club ambassador Kevin Ball added: “This is brilliant news for Sunderland. It’s great to see such a significant investment coming into the city to support a site which we have all been so keen to see developed.”
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Hide AdToday’s announcement has also been welcomed by business leaders across the city as well as education chiefs.