Princess’approval
Apr 9 2008 by The Evening Gazette
A MASSIVE investment in one of Middlesbrough’s finest historic buildings, which links its newest business quarter with the town’s commercial past, has been praised by Princess Anne during her visit to Teesside.
Giving the royal seal of approval to a £1.4m refurbishment of the landmark Commerce House in the town’s Exchange Square, she said it sent a message of confidence to the business community.
The former exchange, with its distinctive green dome, is now used as the Tees Valley headquarters of the North East Chamber of Commerce.
Bought by the Tees Valley Chamber in 1936 it has been in continuous use since.
The refurbishment - the biggest ever investment by the organisation - has allowed it to consolidate on a single site, taking staff from 30 to about 60.
Unveiling a plaque in the baroque, panelled banking hall, Princess Anne said: “The investment the Chamber has put into Middlesbrough is a statement to be made.
“It is an excellent form of recycling of a very fine building. I hope it sends a message out [that] so much more regeneration can be done and achieved. It should give a degree of confidence to others out there looking to invest.”
Richard Bottomley, NECC president and senior partner at KPMG in Newcastle, said: “This is a very significant investment NECC has made in the centre of Middlesbrough.
“It is at the heart of efforts to stimulate the skills agenda in an area of the region that is doing incredibly well, particularly when you consider recent announcements from PD Ports and developments in the process industries for which the Tees Valley is one of the biggest centres in Europe if not the world.”
Commerce House is at the gateway to the ambitious Boho zone which is set to become the vibrant digital quarter in the town’s Victorian heart.
Combining home/work units for start up businesses with access to state of the art technology, Boho will help drive growth in a sector earmarked by the government for special attention.
The baroque-style five-storey Commerce House was built for the York City and County Banking Company in 1873 and was best known as the home of the Midland Bank.
At the time, the buildings were known as North Eastern Bank Chambers which was renamed Commerce House when TCC bought the building with money donated by members.
The re-developed building will bring together two NECC training centres as well as providing a base for its award-winning international trade, policy and membership teams under one roof.
The amalgamated operation will occupy approximately 12,500sq ft of office space.
