The regeneration project at Tindale Crescent, which may create up to 1,000 jobs in the area, has moved a step closer after developers secured over £26million of funding to deliver the first phase of the scheme.
The news has led to hopes that the project will begin in earnest. In fact, developers, Terrace Hill, have stated that they are ready to move onto the site, which has been vacant and derelict since the closure of Warner Electrics in 2003, in November.
During the announcement of the first-round funding package, it was confirmed that a 92,333 sq ft supermarket had been pre-let to Sainsbury’s on a 25-year lease. The store, and Bishop Auckland FC’s new home stadium, will be the first developments to be constructed.
Duncan McEwan, retail director at Terrace Hill, said, “The signing of this agreement is the next step in developing our Tindale Crescent scheme, which will regenerate land that has been vacant for some time, and create a significant number of new long-term employment opportunities for the community.
“We look forward to starting on site in November and progressing our plans for the remainder of this exciting scheme in 2010”.
Bishop Auckland FC and their supporters will undoubtedly be delighted with the news, which will bring their search for a new, permanent home closer to resolution some 15 years after they vacated their historic Kingsway ground.
As well as the stadium and supermarket, there are also plans to build a 58,000 sq ft leisure complex, comprising a six-screen, 1,000-seat multiplex cinema, along with a bingo hall and tenpin bowling alley, and two restaurants, including a drivethrough facility.
It is hoped that the entire scheme will be completed within 15 months, with the stadium expected to be ready in time for the 20010/11 season, when BAFC will play its first ‘home’ fixture since 2002.
Bishop Auckland's local community newspaper.
