Gateshead Metropolitan Borough Council, One North East and English Cities Fund are working jointly as Gateshead Regeneration Partnership to progress this initiative together with other public and private sector partner partners and jointly promote the regeneration of central Gateshead.
Gateshead Council is a unitary local authority, with a population of just under 200,000. It is recognised as one of the most innovative and forward thinking authorities and has been classed as “excellent” in the recent Audit Commission Comprehensive Performance Assessment. The Council is run by a cabinet system, which is headed by the Leader and made up of ten members appointed by the Council from the majority party. The Council has major land holdings in the Town Centre, including the site of Trinity Square shopping precinct, the Interchange shopping precinct, the civic centre, the old town hall and Swinburne Street buildings and the majority of residential properties.
One North East is the Regional Development Agency for the North East of England, comprising Northumberland, Tyne and Wear, Durham and Tees Valley. The RDA was established to further economic development and regeneration, creating a Regional Economic Strategy with partners that has led to a diverse range of programmes and initiatives. These activities include inward investment, site and property development, urban and rural development, business growth, innovation, employment, skills and education development, sustainable actions, social inclusion and the development of communities.
The English Cities Fund was established in December 2001 to bring institutional investment into regeneration. A partnership between Legal and General, AMEC and English Partnerships, it is a commercial organisation bringing a unique blend of public and private skills and experience to the implementation of high quality sustainable regeneration projects in Assisted Areas in England. Its first phase of investment will total 100 millions, comprising 50% equity from the three partners, with 50% bank finance. Phase 2 will take this to £250 million.
