The High Street Group has finalised the purchase of the land at Strawberry Place, which will be transformed into a new living, working and leisure community in the heart of Newcastle.
Newcastle-based High Street Group is now the sole developer on the site, having now purchased the full remaining share capital in the development vehicle.
This significant milestone in the £120m regeneration of this part of the city will enable The High Street Group to embark on the first stages of construction on the site, which is adjacent to St James’ Park stadium.
A construction partner will soon be appointed to the 2.3 acre scheme and discussions are ongoing with potential occupiers.
Generating hundreds of new jobs for the city, Strawberry Place will feature more than 300 world-class, affordable rental apartments, a 100-bed hotel and grade one office space. It will also boast attractive public spaces bordered by a range of bars and restaurants.
Among them will be a ‘Geordie’ themed venue that will celebrate the city and enhance the matchday experience for Newcastle United fans, as well as visiting supporters, who will be able to experience top quality local hospitality and produce.
This is the latest landmark development being delivered by The High Street Group in Newcastle, which includes the city’s tallest building, Hadrian’s Tower. Located just a few hundred metres from Strawberry Place, the 27-storey Hadrian’s Tower will feature 162 luxury apartments and a roof top champagne lounge with 360-degree panoramic views of the city.
These developments represent The High Street Group’s strategy to build new sustainable communities in its home city alongside its projects throughout the UK.
Outside of the North East, The High Street Group is currently engaged in the delivery of multiple build-to-rent projects in cities including, Birmingham and Manchester, all of which will enhance urban living opportunities in these locations.
Gary Forrest, Chairman and Founder of The High Street Group, said: “This is an important milestone in the regeneration of Newcastle, which will encourage more investment, job creation and, ultimately, create a new, vibrant community at the very heart of the city.
“With the completion of the land and shareholding acquisitions we are in a position to embark on the development of Strawberry Place and further progress our discussions with potential occupiers who are keen to be part of our growing and welcoming city.
“We have an active portfolio of projects across the country, but as a local company we are immensely proud to be creating communities in Newcastle. Strawberry Place and Hadrian’s Tower are landmark developments for the city, allowing us to play a significant role in Newcastle’s future prosperity.”