The Opportunity

Reditum Capital investors, in a joint venture partnership with Newby, have acquired Quayside West, one of the North East’s largest regeneration opportunities. The partnership plans to provide a mixed-use development of 1,100 homes, a 140 key hotel and associated commercial, retail, leisure, and public space.

Reditum’s in-house planning team are progressing the new outline planning application for the site with the local authority and the construction of the spine road through the site. Upon the granting of planning permission, plots will be onward sold to UK homebuilders.

Quayside West comprises 18.4 acres fronting the River Tyne and represents the most prominent undeveloped site in the city. The site is at the heart of Newcastle City Council’s “Forth Yards” development framework, which aims to create a new urban area in the former industrial area to the immediate west of the city centre. Newcastle has seen a wave of regeneration in recent years, and Quayside West will be at the forefront of the city’s next phase of urban expansion and modernisation.

The Market

Newcastle has enormous political support for the proposed scheme due to a lack of new build supply and the vast contribution the scheme will make to the local economy. 

The Newcastle market is growing and the area has long term regeneration prospects given its central location. Savills have forecasted cumulative growth in the mainstream North East residential market of 17.6% over the next five years, and 2.0% in 2019.

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