Tesco’s regeneration subsidiary Spenhill and Gateshead Metropolitan Borough Council have signed a deal to begin a construction project to regenerate Gateshead’s town centre.
The development agreement is the first part of a plan towards the physical regeneration of the town centre. Spenhill will soon put forward a planning application for Trinity Square, a 3.5ha site that is the focal point of the town centre.
Gateshead Council leader Mick Henry said: “This agreement brings with it the confidence of one of the UK’s most significant investors - which will hopefully trigger further development.
“It is hoped that this will turn Trinity Square into a vibrant centre that meets the long held aspirations of Gateshead people.”
Spenhill corporate affairs manager Doug Wilson said: “The development agreement signals our confidence in the future prosperity of Gateshead.
“Our proposals will include a range of facilities with new public spaces, shops, student housing, offices, a new town centre car park and a Tesco store.”