THE first phase of a multi-million pound riverside development has been completed.
The developers of Freeman’s Reach in Durham have officially opened Wearside House, the first section of the £27million regeneration project in the city centre.
Wearside House will provide our staff with a modern and collaborative working environment and we are really looking forward to moving in.Helen Hawkley, assistant director of commercial assurance at NS&I
The building is the new North East home of National Savings and Investments (NS&I) and its 400-strong workforce, will shortly begin the transfer from its current home across the River Wear in Milburngate House.
Freeman’s Reach is being developed by the Carillion Arlington Richardson Development Partnership, and is funded by Legal & General.
At its launch, more than 100 guests from the business community, Durham County Council and the NS&I helped mark the milestone.
Durham County Council leader Simon Henig said the development forms part of its vision to establish a thriving economy in County Durham, create thousands of jobs and establish the county as a major economic centre.
The relocation of NS&I to Wearside House, followed by Her Majesty’s Passport Office into phase two of Freeman’s Reach in 2016, will create an opportunity to regenerate Milburngate House.
Neil McMillan, development director of Carillion Developments, said: “We have a tremendous sense of pride in the completion and official opening of Wearside House.
“It is a catalyst for a long-term, sustainable future for Durham’s Riverside, which not only complements, but enhances the city’s ambitions to deliver an attractive environment for inward investment and growth.”
Allan Cook, managing director of Arlington Real Estate, said: “This is a very exciting time for Durham and we are delighted to be playing such an important part in helping to shape its future.”
Helen Hawkley, assistant director of commercial assurance at NS&I, said: “Wearside House will provide our staff with a modern and collaborative working environment and we are really looking forward to moving in.”