Holmeside

The Holmeside Triangle site extends to 2.94 ha (7.26 acres) and is located in the heart of the city centre adjacent to the transport interchange. Holmeside’s central location and proximity to the Bridges Shopping Centre creates an opportunity to add a new dimension to Sunderland’s retail core. This in turn will contribute towards a more vibrant, prosperous city centre economy.

A masterplan for the site was prepared by the arc prior to marketing the site. It sets out key development and design principles. A Development Framework has subsequently been prepared in collaboration with the Council to comply with the requirements of the UDP. This is was the subject of stakeholder consultation last autumn and the Framework is expected to be endorsed by the Council this summer.

Thornfield Properties plc has been appointed as preferred developer. It has a strong track record of delivering retail-led,
mixed-use town centre regeneration schemes. An Exclusivity  Agreement exists between Thornfield, the arc, One North East and the Homes and Communities Agency committing the parties to negotiate a formal Development Agreement. A Joint Venture Agreement is in place between the arc, One North East and the Homes and Communities Agency.

Thornfield’s proposals comprise 28,810m² of retail, 5,300m² leisure, food and drink and a new car park. The level of residential development is under review and will reflect what is considered to be deliverable in the light of prevailing market conditions.

The site is currently in multiple ownership although One North East and the Homes and Communities Agency have been proactive in acquiring interests to start the site assembly process. To date, around 75% of the freehold site area has been acquired between the two agencies.

Negotiations with Thornfield are at a very advanced stage and a final conclusion is imminent.