A former shipyard on the banks of the River Tyne is opening today to developers who may want to invest in it. More than forty companies have registered for the open day at the Swan Hunter site on North Tyneside.
North Tyneside Council is currently preparing a Local Development Order which will allow building without planning permission, they hope this will appeal to potential investors.
The Council has been successful in the first stage of a bid to secure over £6.5m of funding, which will bring in around £13m for work at the site.
The appointment of a developer partner will be agreed by the end of the year.