ONE of the largest regeneration and development projects in the north-east of England is under way, thanks to the backing of a Pocklington company.

Property development and investment firm The Helmsley Group, which is behind the Monks Cross North business park on the York outer ring road and the commercial developments at Clifton Park and Holgate Park, is embarking on the development of Manhattan Gate, Middlehaven in Middlesbrough, close to the Riverside Stadium.

The £500 million mixed-use scheme led by Tees Valley Regeneration will comprise residential, commercial and leisure developments on a 200-acre site and is set to create up to 2,000 jobs to kick start economic growth for the Tees Valley.

The Helmsley Group has teamed up with property developer Terrace Hill Group Plc, to create the commercial property for Manhattan Gate, which will be the business capital of Tees Valley, a project which could take between ten and 15 years to complete.

The first building, the 30,700 sq ft three-storey Hudson Quay, will be available by early summer and signals the start of the Middlehaven regeneration scheme - being built around a spectacular Central Park, New York, theme.

The glass building will have waterside views and will eventually include a large central atrium with a caf bistro adjoining.

Ian McAndrew, development manager of The Helmsley Group, said: "Middlehaven is one of the largest and most exciting developments taking place anywhere in the UK and we are confident that with our involvement and the backing it is receiving from all the partners involved, it will be a major success."

Updated: 11:05 Thursday, December 02, 2004