Member Article

Malhotra Group submits plans for landmark site

Newcastle-based property company the Malhotra Group has submitted a £5 million investment plan to Newcastle City Council to redevelop the Grove in Gosforth as the business gears up for several further investments.

The proposed residential scheme, which will create 50 jobs during the development, will see the company build 16 high-end apartments and two luxury penthouse suites with associated underground car parking, leisure facilities and concierge services at one of the North-East’s most prestigious locations.

Working closely with _Space Architects in Newcastle, the full planning submission for the Grove Gosforth includes a multi-million pound regeneration of a property that has stood derelict for six years.

The Malhotra Group, which employs around 1000 staff, runs divisions specialising in care, leisure, finance, property development and investment.

Meenu Malhotra, chairman at the Malhotra Group, said: “We are aiming to further enhance the vitality of this historic and landmark street by adding 18 of the finest apartments that our region has ever seen. The Grove is the first of several investment projects we are expecting to announce this year.

“This size of investment is relatively small for our business but it’s the first time we have embarked on a new-build site that we will ultimately not occupy or own, which means the burden of responsibility is even greater. With this in mind, we will be acting with caution by appointing a renowned national builder and a reputable local sales partner.

“We have always wanted to bring this type of accommodation associated with the iconic cities of this world to Newcastle and it will be of a standard unparalleled in the area. This prestigious location has given us the opportunity to actually build on our vision but at a level that will allow us to learn and then go on to create more substantial developments in the future.

“This is a very exciting time for our business following our restructure as we are bringing the running all of our businesses and investments under the umbrella of Malhotra Group PLC over the next few months. Although we are an international company, we are very much committed to the local economy here in our home in North East England,” added Mr Malhotra.

The Grove Gosforth development will consist of two accommodation ‘wings’ on either side of a central atrium. David Coundon, architectural director at _Space commented: “This has been a great opportunity for us to respond to a visionary brief with a view to creating a truly magnificent contemporary development.

“Key to our approach has been respect for the character of this part of the Gosforth Conservation Area and the preservation of the existing streetscape, on-site mature landscaping and stone boundary wall in particular. As a company, we are very proud to be involved with this fantastic new building.”

Meenu Malhotra was runner-up for both the Entrepreneurs’ Forum’s Entrepreneur of the Year and the Dealmaker’s Entrepreneur of the Year awards last year. The highly-respected international entrepreneur now oversees the strategic direction of the Malhotra Group as well as mentoring his own management team and other independent SME business owners.

Away from business, Meenu is a beneficiary of various trusts and is also actively involved in many charitable projects. In August last year, he made a personal donation of £100,000 to the Newcastle Healthcare Charity at the Freeman Hospital. He is also McKenzie friend to the ethnic community in the North East.

This was posted in Bdaily's Members' News section by Holli Brown .