£6.6m Newcastle city centre development moves forward with joint venture deal
A central redevelopment project in Newcastle has made progress as a local property firm signs a deal with Tyneside Group to fund and deliver the scheme.
Newcastle-based property and development specialist Morton Group will fund and create the £6.6m redevelopment of Regent Manor through its delivery companies Lok Developments and Kapex Construction.
Situated on 152-156 New Bridge Street, the 10,800 sq ft office block will be transformed into 24 apartments, offering a mix of one, two, three and four-bedroomed properties.
Construction is expected to commence in the next few months, with completion scheduled for late spring 2021.
Gary Morton, group CEO of Morton Group, commented: “We’re delighted to partner with Tyneside Group to bring forward Regent Manor.
“Our strong commitment to quality and accountability means we will deliver the best possible results for Tyneside Group and for the future residents of Regent Manor.
“Its prime location on a main route into Newcastle, high quality design and ambitious project team makes it another fantastic residential scheme for us to take forward.”
Robbie Kalbraier, managing director of Tyneside Group, added: “Having obtained planning permission in summer 2019, we are now excited about joining with Gary and his team to create an exceptional new residential development in Newcastle at the start of a new decade.”
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