Legal & General announces that it has started construction of its flagship office building, The Lumen, at Newcastle Helix, as part of the initial £65 million it has invested in the site. This is the largest city centre office building, with private sector funding, to be constructed in the last decade.
27 Jul 2018
As one of the biggest urban regeneration projects of its kind in the UK, Newcastle Helix is set to create over 4,000 jobs, 500,000 sq ft of office and research space, and 450 new homes. The aim of the development is 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”.
In June 2016, Legal & General became the long-term investment partner of Newcastle City Council (NCC) and Newcastle University (NU), to build and finance the Newcastle Helix development. The partnership is working in collaboration to deliver this landmark regeneration project.
Nigel Wilson, Chief Executive of Legal & General: "...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."