Newcastle Quayside to receive region's first ever build-to-rent apartment scheme

The development of a multi-million pound build-to-rent property is underway on Forth Banks in Newcastle, said to be the first of its kind in the region.

Over £30m has been invested into the development, named The Forge, and is to create 283 purpose-built rental apartments.

The build-to-rent scheme offers a ‘high-quality’ rental with a supposedly professional landlord and flexible lease terms.

Helen Douglas-Teggart, lettings manager at the Forge, said: “The Forge will introduce a professionally managed, purpose designed, top quality rental offering to Newcastle.

“We expect it to appeal to a range of residents from young professionals and couples to graduates and families with young children, as it’s flexible and offers a great lifestyle with hassle-free living.

“As part of our quayside living model, The Forge will establish a community and embrace Newcastle’s business scene, working with all industries from hospitality to retail to deliver pop-up events exclusive to residents.

“We’re excited to provide the perfect base for city dwellers to reap the benefits of long-term, convenient renting.”

Spanning over 200,000 sq ft at the heart of the Stephenson Quarter, The Forge is being delivered by Moorfield Group. It will comprise one, two and three-bedroom apartments, managed by UK property consultant, Allsop.

It will be set across three apartment blocks; the first of which is due to be complete and will be ready to move into this summer, followed by blocks two and three later in the year.

Each interior designed apartment, available either with or without furniture, will have a bright and contemporary open-plan layout, while some apartments will also feature a balcony.

There are also opportunities for local businesses as the on-site team will host regular events in the development’s private dining and event space, welcoming everything from beauticians to pop-up bars. Retail space of approx. 3,000 sq ft on the ground floor is currently on the market.