A £300m joint venture to focus on commercial property development and investment in the region will be unveiled today.
The venture, between Bank of Scotland and UK Land, will be called UK Land Estates.
The bank will take a 50 per cent equity stake in the joint venture and will provide significant debt funding to exploit both new and pipeline development activity.
UKLE has a track record of successfully developing and managing industrial and office properties.
A number of projects currently in the early stages of development include the Waterfront, a £30m landmark development on Newburn Riverside, a mixed use development including a hotel at Team Valley in Gateshead and the Tyne Tunnel estate, a million sq ft estate being developed to a new plan for mixed use.
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