£35m Gateshead Quayside development proposals receive major appraisal

Proposals to develop 269 apartments for private rent on Gateshead Quayside have been approved from the borough’s planning committee.

High Street Residential, which is part of the High Street Group of Companies and the developer behind Hadrian’s Tower in Newcastle, is to transform the former Brett Oils Depot into £35m worth of one and two-bed apartments.

The site will also contain two duplexes and ground-floor commercial and office space.

There is set to be a significant amount of public realm enhancement that will allow access for residents and visitors to the southern bank of the Tyne.

Development work is expected to start with enabling and demolition early in 2020 with a construction start targeted for Q2 of the year.

Gary Forrest, chairman of the High Street Group of Companies, said: “It is great to see that the council is so much in favour of our proposals. Developments like this will help to meet the demand for housing from young professionals working on Tyneside.

“People are increasingly choosing to rent. Already 19 per cent of people do so and that figure is expected to rise rapidly over the next 20 to 30 years.

“We are meeting this demand, by delivering high quality living spaces in town and city centres, with communal relaxation and leisure facilities, where people can meet, form friendships and build new communities.”

Nationally, High Street Residential is constructing or preparing to build eight other PRS developments in Birmingham (four), Manchester, Milton Keynes and Warrington.

In total, these projects would deliver around 2,700 apartments with a gross development value of £544m.