North East Mayor Kim McGuinness has announced £27m of funding today to unlock new jobs and urban regeneration at a landmark site in the centre of Durham City.
The investment paves the way for the creation of a high-tech workspace for cutting edge businesses located on a major new employment site replacing Durham’s County Hall, close to Durham’s main railway station and overlooking the historic heart of the city and its World Heritage Site.
A new Durham Mayoral Development Zone (MDZ) is set to be created to drive forward plans for Aykley Heads in the Durham Innovation District in a new strategic partnership between Durham County Council, its joint venture delivery partner Muse, Durham University and the North East Combined Authority, which is set to approve the plans at cabinet next week. Aykley Heads is expected to deliver around 400,000 sq.ft of high-quality workspace across four phases.
North East Mayor Kim McGuinness, said: “I want to give Durham a major boost, establishing a new home for innovation right at the heart of the city which will create more jobs and a vibrant place where people and businesses can thrive.
“Our people are our biggest asset, and we want to keep more of our emerging talent within the North East to give local people access to the best opportunities. I want to ensure that graduates in the region can see their future here - investing, working and living in our amazing cities and villages.
“Durham is iconic and its historic University and Cathedral are well-known across the globe, but it’s also a key strategic city with excellent transport links and home to many amazing businesses. I want more growth right across the North East, so I'm pleased we are on our way to establishing a new Mayoral Development Zone for Durham focussed on innovation and regeneration of the city including the area in and around County Hall.”
The Durham MDZ mirrors the MDZs adopted in Newcastle-Gateshead and Sunderland by the Mayor, aligning multiple strands of investment - innovation, culture, connectivity, housing and placemaking.
Cllr Andrew Husband, Leader of Durham County Council and North East Combined Authority Cabinet member for A North East We Are Proud To Call Home, said: “We’re delighted with this announcement of £27m from the Combined Authority which is a further boost to our plans for Aykley Heads to be the beating heart of the Durham Innovation District.
“Aykley Heads is already a great place to do business, as evidenced by the top class organisations already based here; boasting excellent transport links and close proximity to our World Heritage Site Durham Castle and Cathedral. What’s more, it will soon be a place to enjoy culture, when our new attraction, The Light, opens.
“We’re getting ready to leave County Hall to pave the way for land at Aykley Heads to be developed, providing the opportunity for thousands of new quality jobs to be created. This funding and the creation of the Mayoral Development Zone can only help accelerate our exciting vision for the site.”
Durham University is investing in its science, research and business estate. Durham University Business School, which recently celebrated its 60th anniversary, has new facilities at the Waterside building in Durham city centre. There are new STEM facilities and city centre innovation spaces.
The new MDZ aligns these investments with the established Durham Innovation District, strengthening the city’s innovation capacity and supporting collaboration between researchers, businesses and cultural organisations.
Professor Karen O’Brien, Vice-Chancellor, Durham University, said: “Durham University is committed to being a key partner in driving innovation and growth in our city and region.
“The Durham Mayoral Development Zone and the accompanying financial investment will drive further economic, social and cultural development in our city and region, increasing the attractiveness of Durham as a destination for work, study and living.”