LIVERPOOL property firm Downing has handed over the first phase of Newcastle’s largest city centre regeneration scheme to its new tenants, Newcastle University Business School.

Downing has completed work on 100,000 sq ft of its flagship project, Downing Plaza, which is transforming the former Scottish and Newcastle brewery site.

In 2010, the business school pre-let the office and teaching space at Downing Plaza in a record deal for Newcastle’s commercial property market.

A new student accommodation complex, also developed by Downing, is adjacent to the site and welcoming intake from September.

Downing is nearing completion of Phase Two of the scheme, which comprises a 520-bedroom student village and 8,000 sq ft of retail space.

Work on phase three’s student accommodation facility, which will house a further 351 student bedrooms, is due to start this year.Š Planning permission is also in place for a 285-bedroom hotel.Š

The £100m scheme is being built in phases by Downing’s in-house construction arm, George Downing Construction.

Paul Houghton, development director at Downing, said: “The demand for first-rate student accommodation has never been higher, as universities are working hard to attract the best students.”Š