The Core set to bring £20m to Science Central
The Core, the first building to open on Science Central in Newcastle, is set to bring a projected 400 jobs and £20m to the city’s economy.
The building will open for business on 3 November 2014, following a 12 month construction programme.
Owned by Newcastle City Council, The Core, which spans seven floors, will create approximately 2,750 sqm of serviced office space for high growth technology and science-based businesses, with additional event space for business networking and activities.
Over half of the building is already pre-let to tenants, including a rapidly-growing software developer and significant academic and industry research partnerships.
Leader of Newcastle City Council, Cllr Nick Forbes, said: “The Core is much more than a state-of-the-art building – it is a bold statement of confidence in Newcastle.
“The fact that more than half of the building is already let – four months before it is due to open – shows a real demand among businesses who want to locate in Newcastle.
“The 400 high quality jobs it will create, and the £20m economic boost, are fundamental in helping us build a strong knowledge-based economy that will enable the city to compete on an international stage.”
Fiona Standfield, Director of Newcastle Science City, the partnership responsible for delivering Science Central, explained: “Last year Science Central was identified in the North East LEP’s Strategic Economic Plan as a key innovation hub and economic asset, and this has been reiterated by the Prime Minister this week following the announcement of the North East Growth Fund, in which Science Central plays a key role.
“The development will have a significant impact on the future economic prosperity of the region, helping to bring more and better jobs to the North East, by driving innovation and attracting employers to locate here. With The Core opening in just a few months’ time and the promise of more investment to come, this is a truly exciting time not only for Science Central, but for the wider region too.”
The Core offers flexible terms suitable for high growth businesses, 24-hour access, free private meeting rooms and hyperfast fibre broadband connectivity.
The building has been designed with urban sustainability at its heart. Sustainability features include a four-storey living wall, bee hotels, planted sedum roofs, rainwater harvesting and a series of adjoining public squares, which resulted in a recent sustainability ‘excellent’ award.
The Core is managed by award-winning facilities management and consultancy company, Creative Space Management, which is aiming to achieve 85% occupancy within a year.
Paul Fallon, Project Manager at Creative Space Management, said: “The Core will be at the heart of one of the most innovative and inspiring city centre developments in a generation.
“The Core has been designed to serve as a crossing point between research expertise and commercialisation. Businesses based here will benefit from unique access to networks that could gain them crucial competitive advantage.
“This will be the key address to have in Science Central – and the hub of a great deal of activity in the coming years.”
Science Central is a 24-acre development delivered by Newcastle Science City, a partnership between Newcastle City Council and Newcastle University.
The Core has been part-funded through the European Union Regional Development Fund 2007-2013 (ERDF) and by the Regional Growth Fund.
Science Central has been part-funded through the European Union Regional Development Fund 2007-2013 (ERDF) and by the Regional Growth Fund.View all News relating to: Locate, Healthy Ageing, Stem Cells & Regenerative Medicine, Sustainability,