The Lumen, a 108,000 sq ft eight-storey Grade A office building, is the first phase of development by Legal & General at Newcastle Helix, one of the biggest urban regeneration projects of its kind in the UK.
The scheme is set to create over 4,000 jobs, 500,000 sq ft of office and research space, along with 450 new homes. Overall, the development is aiming to become a major UK hub for scientific research, and technology businesses, creating knowledge-based jobs for future generations in Newcastle and extending the Northern Powerhouse to "the North of the North".
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The regeneration is being delivered as a partnership between Newcastle City Council, Newcastle University and Legal & General.
A groundbreaking ceremony was held to mark the start of construction on The Lumen today, 27 July.
Nigel Wilson, Chief Executive of Legal & General, said: "These are exciting times for Newcastle. Having grown up close to the City I have seen it survive through more difficult times as well as more positive ones. This is another new chapter for Newcastle and our partnership with Newcastle Council is a shining example of a local authority who embraces the opportunity afforded by devolution by forming exciting investment partnerships to drive forward the growth of our towns and cities."
Cllr Ged Bell said: "Newcastle Helix this is nothing less than a game changer for future growth in Newcastle, and the work starting on The Lumen sends out the strongest possible message that Newcastle is a city on the up and open for business.
"This site represents the economic future of the city, and the unique partnership we have forged with Legal & General is not only testament to the confidence they have in our city, it will bring jobs and further investment that will benefit local people."
(LM)
