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Economy of Newcastle upon Tyne



contributes around £13 billion to the UK GVA. The Central Business District is in the centre of the city, bounded by Haymarket, Central Station and the Quayside areas.

Retail

In 2010, Newcastle was positioned ninth in the retail centre expenditure league of the UK. There are several major shopping areas in Newcastle City Centre. The largest of these is the Eldon Square Shopping Centre, one of the largest city centre shopping complexes in the UK. It incorporates a flagship Debenhams store as well as one of the largest John Lewis stores in the UK. John Lewis is still known to many in Newcastle as Bainbridges. Newcastle store Bainbridge's, opened in 1838, is often cited as the world’s first department store. Emerson Bainbridge (1817–1892), a pioneer and the founder of Bainbridges, sold goods via department, a new for merchant custom for that time. The Bainbridge’s official legers reported revenue by department, giving birth to the name department store. Eldon Square is currently undergoing a full redevelopment. A new bus station, replacing the old underground bus station, was officially opened in March 2007. The wing of the centre, including the undercover Green Market, near Grainger Street was demolished in 2007 so that the area could be redeveloped. This was completed in February 2010 with the opening of a flagship Debenhams department store as well as other major stores including Apple, Hollister and Guess.

The main shopping street in the city is Northumberland Street. In a 2004 report, it was ranked as the most expensive shopping street in the UK for rent, outside of London. It is home to two major department stores including the first and largest Fenwick department store, which houses some of the most luxurious designer labels, and one of the largest Marks and Spencer stores outside London. Both stores have