Steenbergs Yard in Newcastle.
Jane Imrie

Developer accelerates plans for North East and Yorkshire homes following high demand

The development of new homes across the North East and Yorkshire are underway in spite of the disruption caused by COVID-19.

Developer PfP igloo, a collaboration between PfP Capital UK and igloo Regeneration, has accelerated plans to release over 200 homes for sale across three UK cities over the next 12 months.

New homes are on track to be delivered in the cities of Leeds and Newcastle as part of the firm’s national plans.

Projects at The Ironworks in Leeds and Steenbergs Yard in Newcastle have been brought forward the release dates of future phases, as a result of high demand seen over the summer for the developments’ completed properties.

In addition, Newcastle City Council has also confirmed PfP igloo as development partner for Stephenson Square, a mixed use £100m city centre site that will create 2,000 jobs and deliver 190 homes.

John Tatham, finance director at PfP Capital, commented: “Looking at the sales data from our developments, it’s clear to see that the attention we have paid to the design and the mix of home styles, and creative investment in public realm is being very well received by local communities, and demand for our product is high.

“We are continuing to back our own developments and pushing forward with new phases faster than we had anticipated, even pre-Covid.

“I’m confident that with the insights we have gained, our programmes will continue to operate as a catalyst for an uplift in the investment profiles of these important city regeneration areas. We are now actively looking for new sites to meet this demand.”

Peter Connolly, chief executive at igloo, added: “The PfP igloo vehicle is set up so that we can respond to needs within the market. The events over the last few months have meant people’s living requirements in city centres have changed and there is an increased demand from people wanting a connection to nature, outdoor space and a sense of community.

“Like everyone, we’ve had to adapt during the pandemic and it’s been an extremely tough time to keep on programme, but by being agile and using new technology we’ve not delayed any sales releases.

“Conversely, due to the speed of sales, we’ve even been able to bring our next phases for release forward and we are releasing homes 12 months ahead of completion.”

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