Legal firm will guide pioneer city project

Apr 1 2009 by Peter McCusker, The Journal

Funding for the Bid will come from a 1% levy on the business rates already paid by city centre businesses, which along with match funding, could provide up to £15m for the first five years of its operation.

As the company responsible for the allocation of this funding, Newcastle NE1 will be commercially focused and accountable to the businesses involved in the scheme and its performance will be measured against agreed performance indicators.

Watson Burton partner Mark Whitehead said: “We are delighted to have been chosen by Newcastle NE1. This is a great opportunity for Watson Burton to be involved in improving the community.

“As a firm within the Bid area we will be directly affected by the scheme and therefore share the interests of all member businesses. Our knowledge of the area, personal interest in the scheme and established expertise working in the public sector and for private enterprises will allow us to provide commercially focused advice which will support the best interests of the scheme and its member businesses.”

The scheme has received support from some of the city’s most established businesses, including Fenwick and Eldon Square shopping centre.