NEWCASTLE on TYNE—The Royal Bank of Scotland has been named the leading financial partner for the first phase of the $304 million (approx. €234M) Stephenson Quarter, next to the Central Station.
Under the leadership of Newcastle-based developer Silverlink, RBS Corporate and Institutional Banking has provided a $34.6 million (approx. €26.6 M) facility to ensure work is now underway to develop a landmark 251-bed four-star hotel in Newcastle city center.
Phase one will include a new luxury hotel and spa with state-of-the-art conferencing facilities along with a 357-space multi-story car park, 35,000 square feet of offices and a large new landscaped public space that will be completed within the next two years.
Work on this 10-acre strategic site represents a successful professional, funding partnership between Silverlink, RBS CIB, Newcastle City Council, Miller Construction, The Intercontinental Hotel Group, and the Local Enterprise Partnership. All parties, along with other stakeholders, have combined to create a resilient funding plan.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
