Riverside Sunderland – Latest
A new plan for Sunderland’s city centre will be launched today and is backed with more than £100m by one of the world’s biggest investment companies.
Riverside Sunderland, which is being hailed as the most significant investment announcement in decades, will see the UK’s largest asset manager, Legal & General, pave the way for three buildings on the former Vaux Brewery site, including the new City Hall development, after agreeing a deal with Sunderland City Council.
The British business described the ‘vast potential’ it has seen in the council’s plans for Sunderland as being a driver for its investment, and has committed £120m to help deliver three major office developments that will act as a catalyst to realise a visionary plan for both sides of the Wear.
It is expected that the vote of confidence this will give the area will accelerate the transformation of the former Vaux site, as well as Farringdon Row, Galleys Gill and Sheepfolds, and have a ripple effect into the city centre, creating a more vibrant High Street during the daytime and evening.
The Riverside Sunderland prospectus sets out our plans for the next 20 years, which will establish Riverside Sunderland as a successful business location, a popular place to live, and the focal point for the life of the community.
To find out more information on the development visit: www.riversidesunderland.com