Homes England buys Newcastle’s Quayside West for 1,100-home scheme

Homes England has bought a major brownfield site in Newcastle for a 1,100-home development. Called Quayside West, the site was previously slated for a £250m GDV mixed-use scheme developed by Newby before it fell into administration last year. The proposals were approved in 2020. The site was sold for £7m, according a report filed by administrators at FRP Advisory earlier this week. The deal for the plot, which sits within the wider Forth Yards regeneration site, closed last month. Homes England said the site faced “a number of viability challenges, access constraints and infrastructure requirements” that stopped the private sector from bringing it forward. The body added that since the acquisition brings the site into public sector ownership, it is positioned to “reach its full potential”.  Peter Denton, chief executive of Homes England, said: “It’s hard to overstate the importance of this acquisition. Not only will the site deliver around 1,100 quality, sustainable new homes, but bringing Quayside West into public sector ownership will act as a catalyst for the wider regeneration of Forth Yards, a key regeneration area for the city that has been stalled for more than 20 years. “It’s a complex, challenging brownfield site that could have a transformational impact in the city, but it needs up-front public sector intervention to unlock its full potential – and this acquisition is one of the first examples of that.” Newcastle City Council leader Nick Kemp said: “Now that Homes England has acquired the site, we can get on with our partners and create a neighbourhood that is truly world class. “As a residential-led development it will offer a range of housing, including affordable homes that will attract new families, safeguard employment and strengthen the city’s economy in the future.” North of Tyne mayor Jamie Driscoll said: “By bringing this site into public ownership we can work together to create more green and affordable homes. And the region’s new devolution deal will mean more funding to explore brownfield sites south of the Tyne, continuing to unlock the North East’s potential.” Mayor Dame Norma Redfearn, North of Tyne Combined Authority portfolio lead for housing, land and development, said: ”This investment is a huge step forward in creating a vibrant new community for the people of Newcastle. Imagine, 1,100 new homes on a site that was once just a wasteland. It’s a clear sign of our commitment to decent housing for all and rejuvenating neglected spaces.” Image © Hi-Track Aerial Photography