The Millennium Commission will provide the final £27m needed to build the proposed International Centre for Life in Newcastle-upon-Tyne’s west end, next to the central railway station.
The £54m scheme will provide more than 9,290 sq m (100,000 sq ft) of bio-technology research facilities and a substantial leisure element. Construction of the 11,148 sq m (120,000 sq ft) research and leisure complex is expected to begin by the end of the year.
Alastair Balls, chief executive of TWDC, says three companies have already expressed interest in taking 4,181 sq m (45,000 sq ft). The remaining space will be let on hotel-type leases. A Genetics Institute, led by Newcastle University, will be established in a separate 4,181 sq m (45,000 sq ft) building.
A consortium comprising Tyne & Wear Development Corporation, the University of Newcastle, North & Yorkshire Health Authority and Newcastle City Council put together the funding bid. It had already secured £9.6m in EU funding and £6.5m of private sector finance. Tyne & Wear Development Corporation will contribute £11m and most of the 4ha (10 acre)site.
EGi News 22/05/96
