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Adderstone Group submits £100m Newcastle investment plans

Newcastle-based property developer Adderstone Group has submitted planning applications for three residential schemes in Newcastle worth up to £100m.

The applications, relating to residential schemes at the Quayside, Gosforth and upper Ouseburn, represents one of the largest private development in Newcastle’s core to date.

Gosforth

The Gosforth development, a housing scheme to be known as Christon Park, comprises 51 large four and five bed family homes on the site that is best known as the location of the original Greggs’ bakeries.

The site has been architecturally designed around a grand crescent and features wildlife corridors and communal “pocket parks”.

A public consultation for the proposals was carried out in 2015 at Gosforth Church Hall and scheme plans have been on display within Gosforth Library.

Quayside

The second application is for a residential scheme on brownfield land on Newcastle’s Quayside.

Adderstone Group has proposed a 122 apartment scheme on the vacant site known as “Plot 12”. The 1.5 acre site, adjacent to St Anne’s Quay, is one of the last to be developed on the Quayside.

Working closely with the planners and Newcastle based Ryder Architecture, a stepped, landmark, envelope comprising five towers, varying between 10 and 16 floors, has been proposed as the optimum solution for the site.

The proposals include 122 glass fronted apartments of between one and three bedrooms, all with balconies and spectacular views up stream towards the historic bridges, BALTIC and The Sage.

The proposals will also see significant investment in the landscaping of the existing embankment as well as communal rooftop gardens for residents.

Upper Ouseburn

The third planning application is for an eight storey student residential scheme located on the junction of Stoddart Street and Union Street in upper Ouseburn. The proposals are for the site of the now derelict PTS plumbing building and include 331 beds split across 91 studios and 238 cluster flats.

The development would include a lounge and games room, laundry, fitness suite, two dinner party rooms, study room, cinema room and outdoor amenity space with picnic tables and cycle stores.

Ian Baggett, Adderstone Group Chairman, explained: “Our investment and development strategy is based on our conviction that Newcastle will become one of the lead cities in the Northern Powerhouse.

“With further support from Newcastle City Council on the three current applications, taking existing planning consents into account also, we hope to be in a position to deliver a £150m development pipeline within Newcastle in the next two years.

“The team have worked very hard on these projects and it makes us all very proud to be in a position to make a difference in our home city.”

Sean Bullick, Chief Executive of NE1 Ltd, the city centre Business Improvement District Company said “Adderstone Group’s development pipeline, whilst still subject to planning, potentially represents one of the most significant commitments by a private developer into Newcastle’s urban core.

“As the city’s population continues to grow and become ever more diverse, it is essential that we continue to develop a range of quality new housing stock. It is great to see a local developer as a key player taking up that challenge.”

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