Tolent wins £84.5m contract for Milburngate project in Durham, UK
June 17, 2019 – UK-based construction company Tolent has been selected by the Arlington Richardson Development Partnership for the construction of the Phase One Milburngate project in Durham City, UK.
Tolent will begin construction in the coming weeks, after completing the final site enabling works which have been taking place at the six-acre riverside site since this January.
Under the £84.5m contract, Tolent will build 70% of the entire Milburngate development, which includes the first phase of the project at the site.
Tolent was selected after a commitment for £120m in project finance was secured from LaSalle Investment Management, which has enabled the delivery of the first phase.
The first phase of the development will be occupied by boutique cinema company Everyman, restaurant brands Marston’s Pitcher & Piano, Bar + Block, Miller and Carter and a 92-bed flagship Premier Inn hotel.
The construction company will also build a 5,000m² of speculative offices, creating space for nearly 400 new jobs, along with 153 built-to-rent apartments.
Tolent CEO Andy McLeod said: “This project is one of the most significant wins in the history of our business, and is testament to the skills, expertise and growth of our team not only in the region, but across the UK.
“It’s always a privilege to be involved in such transformational projects, and the vision for Milburngate is one we’re committed to delivering for our client, and for the community within Durham City.”
The Arlington Richardson Development Partnership is a joint venture by Arlington Real Estate and the Richardson family. The partnership has delivered several important regeneration projects in the region including the Freemans Reach in Durham City centre.
Milburngate project director Ian Beaumont said: “Tolent shares our enthusiasm for Durham City and our commitment to delivering a regionally-significant development.
“We undertook a very detailed and comprehensive selection process to ensure we have a contractor that is able to transform this unique riverside location into the vision we have for Milburngate.
“We are very pleased to have chosen Tolent and look forward to working closely with them as they begin construction in the next few weeks.”