Hines has agreed to forward fund the development of a residential scheme in Newcastle on behalf of its Hines European Property Partners (HEPP) fund in partnership with Olympian Homes.
The 519-unit Pottery Lane scheme, which sits within Newcastle’s Forth Yards Regeneration Area, will be delivered in two phases by development partner Olympian Homes.
The first 11-storey block, comprising 292 private units, will be completed in Q4 2026, with an additional six-storey, 227-home asset due for delivery in 2027. Pottery Lane will provide circa 10,000 sq ft of amenity space, including a gym, co-working facilities, cinema room and two roof terraces.
The all-electric scheme will be powered by geothermal heat pumps and on-site solar PV means it will be net zero enabled from day one.
Ross Blair, senior managing director and head of Hines UK, said: “The rapid growth of Newcastle’s tech and innovation sectors, paired with its rising population and the strong reputation of its higher education institutions, is driving increased demand for high-quality rental accommodation in the city centre, particularly among young professionals.
“The scheme’s strong amenity provision and market-leading ESG credentials align with the post-pandemic priorities of Newcastle’s young professional renters. Its outstanding location adjacent to the waterfront and proximity to some of the city’s most ambitious new development projects will further enhance its appeal to this demographic in the coming years.”
Jorge Duarte, senior managing director and fund manager for HEPP, added: “The creation of rental accommodation in areas of high demand and low supply is a high-conviction investment theme for us. We believe this ambitious scheme provides a blueprint for how private capital can be deployed to deliver both value for our investors and the high-quality housing supply the UK and Europe so clearly needs.”
James Lindridge, development director and COO for Olympian Homes, said: “We are excited to deliver such a high quality BTR asset in partnership with Hines and RG Group. Newcastle is a flourishing city with growing tech business centres, this scheme will help manage the housing supply/demand imbalance in the city by providing high quality, highly sustainable homes to local residents. We would like to thank Newcastle City Council for their ongoing commitment and support in the delivery of this scheme and the wider Forth Yards development.”
CBRE advised Hines on the transaction.
