September 10 2019 @ 9:46 by Steven Hugill
The developer behind Newcastle’s tallest building has submitted plans to turn a former oil company base into a 264-apartment complex.
High Street Residential aims to transform Gateshead’s Brett Oils depot into a luxury quayside residential hub.
Bosses say the scheme will help meet demand from young professionals looking to rent, rather than buy, properties.
According to the plans, the project will include a range of 264 one to three bedroomed apartments, duplexes and penthouses, which will be complemented by commercial and retail facilities.
Officials at High Street Residential, which is the developer behind Newcastle’s Hadrian’s Tower, say their Gateshead scheme will use the latest technology and applications in its properties to support individuals’ busy lifestyles and reduce energy costs.
Garry Forrest, chairman of the High Street Group of Companies – of which High Street Residential is a part – said: “Developments like Brett Wharf are helping tackle the demand for housing for young professionals working in the city.
“The average age of a first-time home buyer in the UK is over 30 and 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 aim to meet 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.”
In addition to Brett Wharf, work is already well underway on Newcastle’s tallest building – the 27-storey, 83-metre high Hadrian’s Tower – with around three quarters of the 161 apartments already sold.
Completing the developer’s portfolio in the North East is the Pottery Lane plot in Newcastle, which would be the third private rented sector scheme to be built on Tyneside by High Street Residential.
Nationally, High Street Residential is constructing or preparing to build eight other private rented sector developments in Birmingham, Manchester, Milton Keynes, Salford and Warrington.
Bosses say that in total, these ten projects would deliver around 3000 apartments with a gross development value of more than £1 billion.