The 5.8ha brewery site forms part of a 8.9ha city centre regeneration area, one of the largest in the UK. The brewery will be redeveloped by the local authority, regional development agency One North East and the University of Newcastle to provide facilities for science and technology-based businesses.
The project is expected to create 15,000 science-based jobs over the next ten years. Although contracts have been formally exchanged, Scottish & Newcastle will not officially vacate the site until next June.
The partners will commission a masterplan at the beginning of next year.
Regeneration consultancy Beyond Green has already carried out detailed consultation with stakeholders and residents.