The Goods Yard (TGY) when developed, is the key NE corner site in the wider Forth Yards regeneration area. GBR at TGY will create both the gateway and be the catalyst for the wider Forth Yards area, a 19.25 ha priority brownfield land site in the urban core of Newcastle upon Tyne. It is a strategic regional site with a proposed 3500 homes, which will create an injection of significant private sector capital, employment opportunities and economic output generated by the construction phase of the development. This will in turn increase local resident expenditure and provide fiscal benefits including New Homes Bonus payments and Council Tax for Newcastle City Council.
£370m in private sector investment is expected providing an additional £45.5m of Gross Value Added (GVA) (economic output) per annum during the construction period. 345 FTE permanent direct construction jobs and a further 520 indirect/induced jobs in the supply chain and related services is expected.
Attracting new (predominantly economically active) residents to live in the area creates £19.2m in first occupation expenditure and an estimated £36.7m of net additional on-going expenditure within Newcastle upon Tyne creating approximately 480 new FTE jobs in the local area. A £17.8m in total in New Homes Bonus payments and £4.7m in Council Tax revenues per annum for Newcastle City Council have also been forecast.
Value for money
The Goods Yard is publicly owned and is part of the railway estate with a developer who is 50% owned by Network Rail a public body. The land value and half the development profit of the GBR HQ project at TGY will be re-invested back into the UK railway network.
TGY is a blank canvas allowing under the Opportunities for Great British Railways criteria to develop a bespoke HQ to facilitate the goals and fit the ethos of the new organisation including changing culture, sustainability i.e., showcase a new green office and harnessing the private sector to help deliver it.
Repurposing existing Railway Buildings
TGY The Newcastle High Line will provide direct pedestrian and cycling access from Newcastle station to the GBR head office and will be an iconic urban landmark re-purposing the Forth Banks viaduct and promoting a shift towards sustainable active travel and a green public realm. This will also complement the improvements and re-use of other historic railway infrastructure. The High Line and opening up of low-level arches will be the key access point and visual markers for the wider Forth Yards regeneration zone.
The Goods Yard key points
- The TGY site for the GBR HQ will be significantly visually prominent from the railway and will be a landmark as you approach Newcastle by train over the King Edwards Bridge.
- TGY is essential in delivering the final part of the Station Gateway project which is facilitating new services and the growth of rail travel via Newcastle.
- GBR at TGY will be a critical contributor to levelling up by unlocking the 19 hectares Forth Yards regeneration area and creating connections with existing city-wide infrastructure to the west.
- Historic railway land and infrastructure will be repurposed for the future of Great British Railways.
- A former passenger and goods station will become GBRs HQ.
- The GBR office will be between the High Line and the new station MSCP.
- The low-level connectivity through the site will create an exemplar piece of civic public realm with wide ranging regeneration benefits for the City.