THG Thg Plc

 

TIDMTHG 
 
 
Terrace Hill Group PLC 
02 March 2009 
 
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2 March 2009 
 
 
PLANS FOR DESIGN HUB AT BALTIC BUSINESS QUARTER, GATESHEAD APPROVED 
 
 
Terrace Hill Group plc ("Terrace Hill"), a leading UK property development and 
investment company, has been granted planning permission by Gateshead Council 
for the Design Centre for the North at its 50 acre scheme, Baltic Business 
Quarter, in Gateshead. 
 
 
The Design Centre is a public/private partnership between Terrace Hill and One 
North East, the regional development agency, intended to create a design 'hub', 
a place in which to develop world class concepts, collaborations and initiatives 
that will raise the profile of and foster further success in an industry which 
has already brought economic benefits to the region. One half of the 45,000 sq 
ft, four storey building will be devoted to the hub which will be led by 
Sunderland-based RTC North, a technology transfer and commercialisation 
consultancy, in partnership with the Universities of Newcastle, Teesside and 
Northumbria. 
 
 
The remaining space, approximately 20,000 sq ft, has been allocated as flexible 
commercial office accommodation for the region's design companies. Letting 
agents for The Design Centre, which was designed by architects Red Box Design 
Group, are DTZ and Sanderson Weatherall. It is anticipated that work will start 
on site later this year, with the building taking approximately 15 months to 
complete. 
 
 
The Design Centre for the North is the latest addition to the area's creative 
credentials as Baltic Business Quarter sits behind the Baltic Centre for 
Contemporary Art and the Sage in Gateshead. The design sector currently accounts 
for around two per cent, or GBP600 million, of the region's economic output. 
 
 
Baltic Business Quarter, a ten year project commenced in 2004, continues to 
grow, with proposals for the recently announced hotel, nursery and coffee shop 
element being considered and the arrival in autumn 2008 of the Open 
University at its new 19,500 sq ft buildings, which sit next to the Design 
Centre's site. 
 
 
Martin Vickerman, Director at Terrace Hill, commented, "Baltic is a fantastic 
project and the arrival of the Design Centre, supported by no less than three 
local universities, to our scheme greatly complements its neighbouring occupants 
the Gateshead College and Open University. 
 
 
"We are confident that this new centre will provide both a stimulus for future 
investment in the design industry in the North East, together with a focal point 
for inspiring and promoting innovative and productive design companies in the 
region." 
 
 
Malcolm Page, Deputy Chief Executive of One North East, added "This announcement 
is very positive news for the Design Centre North and signifies an important 
step in making this exciting project a reality. 
 
 
"The new centre will help to drive forward new growth for the North East design 
sector and help boost the wider regional economy." 
 
 
ENDS 
 
 
For further information, please visit www.terracehill.co.uk or contact: 
 
Terrace HillTel: 01642 243 444 
 Martin Vickerman 
 
 
Financial Dynamics(for Terrace Hill)Tel: 020 7831 3113 
 Rachel Drysdale / 
Jamie Robertsonterracehill@fd.com 
 
 
One North East Press Office Tel: 0191 229 6894 
Andy Ashton   andy.ashton@onenortheast.co.uk 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 NRAUUOORKURORAR 
 

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