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Newcastle-based asset management firm Monument Real Estate has secured detailed planning consent for the redevelopment of 2 Cathedral Square in the heart of the city’s Bigg Market.
Designed by Xsite Architecture, the proposals will see the building’s upper floors repurposed as serviced apartments.
Plans were first submitted back in December 2023 but have since been adapted with a reduction in the number of apartments from 139 to 135 together with provision for a fitness room, business lounge and resident’s lounge as the proposed pivoted from residential to tourism use.
A three-storey extension will be added on top of the building which will restore its height to that of the old Town Hall and the Corn Exchange, which once stood on the site. New facades will transform the appearance of the 1970s building, bringing it more in line with the older surrounding properties.
Also within the proposals, a three-storey block further down the Cloth Market will be demolished to open up the area to pedestrians with the intention of restoring the historic street pattern and provide views along the Cloth Market.
Tom Wooldridge, director and founder of Monument, said: “Newcastle has an under supply of serviced apartments when compared to other major regional UK cities. With nearby office developments such as Bank House approaching full occupancy and HMRC’s new HQ at Pilgrims Quarter launching soon, the demand for flexible accommodation in the city centre is set to only increase further, so we are very pleased to get the green light. Providing more opportunities for visitors to stay in the city centre can only have a positive effect on the local economy.”
Helen Marks, director at urban planning consultancy DPP, which represented Monument Real Estate, said: “We are absolutely delighted that after two years of working in close collaboration with officers from Newcastle City Council that the planning committee has supported the proposals for the conversion and extension of Cathedral Square. The scheme which has the support of Historic England and NE1 will, once delivered, support the wider regeneration of the Bigg Market and support the local economy.”
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