A £2.5m mixed-use leisure development in the heart of Newcastle’s rejuvenated quayside will restore historic buildings and create a ‘festival venue’ which will be a hub of food, drink and live entertainment.

Headed up by Ladhar Leisure, the company behind several other successful venues in the area, the scheme will create 100 jobs and cover 30,000sq ft (2,787sq m) of Grade I listed property in White Hart Yard on the quayside. It is a two-phase scheme which has taken the regeneration of Shoreditch and Dalston in London as its inspiration.

Ladhar has owned the buildings for 15 years but has taken its time in actioning the project due to the sensitive nature of the conservation work. “We have spent several years working with city conservation and heritage teams, NE1 Ltd and Newcastle City Council to ensure our plans make a perfect fit with planners’ visions for the city,” said director Barry Ladhar.

The result will be nine different zones spread over five floors, including an intimate 100sq ft (10sq m) basement champagne bar, large exterior cobbled area for pop up events, 1,600sq ft (149sq m) roof-top late bar and a gentleman’s club. “White Hart Yard aims to be an aspirational and discerning all-day hangout showcasing a multi-venue experience of bars, food concepts and event spaces,” said Ladhar. He also intends to include street stalls, a pop-up cinema, chef masterclasses and music events.

The company has turned to two-time Northern Interior Designer of the Year Simon McIlwraith of Collective Design to give the venue its new look. McIlwraith has already collaborated with Ladhar on The Redhouse, a pie and ale venue also on the quayside, Lady Grey’s a modern British eaterie in the city centre and more recently the acclaimed gin palace Pleased to Meet You, all owned and operated by Ladhar. “We want to add a new, independent dimension to the area, “ said Ladhar, “what the chain bars and restaurants have been doing is great, but we have always shouted about the independent operators in the North East.”

Work is due to start in January 2015 with the ground floor phase opening in April and phase two of the project starting in early 2016.