ST PAUL'S Developments is the first major developer to commit to One NorthEast's flagship Newburn Riverside development situated directly adjacent to the Al crossing of the River Tyne in Newcastle.

The new business park is destined to become one of the North-East's most important business locations throughout the next decade, especially for inward investors.

Right at the entrance to this major new site St Paul's will invest £10m to develop around 13,000sq m of high-specification business and commercial units on their site, independently named Bridgeway Newcastle. This investment will help create 300 new jobs.

The overall Newburn Riverside area is currently being reclaimed and serviced by regional development agency One NorthEast, at a cost of £46m.

The St Paul's entrance site, comprising some 10 acres will secure the first tranche of direct private sector investment amounting to more than £7.5m.

Mel Burrell, managing director of St Paul's, said: "We saw the potential offered at Newburn several years ago. Although the strategic regeneration works required the involvement of One NorthEast, we are delighted to have secured the opportunity to develop the prime location on the overall site."

Christopher Pearson, of Chesterton, the site's letting agent, said: "We are delighted to be associated with such a high-profile scheme in the North-East, the very first at the Newburn Riverside Industrial Park Development.

"We are also pleased to be working alongside St Paul's Developments, the award winning developer who have had such success in the North of England.

"We believe strongly in the prospects for this scheme as evidenced by a number of genuine enquiries already received."

Architects for overall plan are DLA Architecture.