It has been announced that Legal & General will be partnering with Newcastle University and Newcastle City Council to help build and finance the new Newcastle Science Central development, which is estimated to cost in the region of £350m.
This new and exciting development will become a major hub for tech businesses and scientific research. It is thought that the development will be one of the biggest urban regeneration projects in the UK. The development will be situated on the former brewery site where Newcastle Brown Ale was brewed, which in the city centre. On top of the science hub it will also deliver 450 new homes and 4,000 new jobs, which is fantastic news for the city of Newcastle.
This deal is the fourth project since the Legal & General partnered with the Regeneration Investment Organisation (RIO). On top of this, Legal & General also plan to invest a huge £15billion into the UKs infrastructure and urban regeneration projects.
This is a very exciting project and one that will surely help give a big boost to Newcastle’s economy and offer great opportunities for people living in and around the city.