Spanish City, Whitley Bay
Development Appraisal & Financial Modelling
Heritage & Listed Buildings
Public Sector Funding
We are acting for North Tyneside Council to prepare the detailed development appraisals required for their Heritage Enterprise Round 2 submission to HLF.
The Spanish City site at Whitley Bay is one of North Tyneside’s most famous landmarks. The project is to complete the full restoration of the building, bringing it back into use for leisure, tourism and commercial uses. The revitalised site will provide over 2,100 sqm of new business space, to include retail units, catering facilities and enterprise space. The centrepiece of this exciting restoration project is The Dome Experience - a unique shared space delivering a wide range of events, exhibitions and activities. The Spanish City dome was revolutionary, beautiful and breath-taking, symbolising everything that a visit to Whitley Bay meant to generations of holiday makers. In this space the project will create memorable, interactive and engaging family experiences, bringing the thrills, fun and beauty of Spanish City’s past to a 21st Century audience in a year-round visitor destination.
The challenge is to identify and appraise the various options for the site including Council led restoration; partnership with specialist leisure operators; and/or enabling development on the adjacent land.
Our role is to work alongside the architect, engineers, cost consultants and the Council’s ‘events’ team to capitalise the revenue business plan and prepare a bespoke cashflow appraisal to demonstrate the conservation deficit to the HLF.
In addition, we have added significant value by completing an options appraisal report to analyse the minimum grant required for various scheme design changes and value engineering including extension ‘wings’ and lightweight glazed reception to the original dome structure. We are currently advising the Council on commercial structures to contract with an operator before finalising the development appraisal report and options appraisal for the HLF.Download PDF