Hines has secured green loan financing from HSBC UK for a 519-home build-to-rent (BTR) development in the heart of Newcastle.
The Pottery Lane scheme, which is owned by the firm’s core plus fund Hines European Property Partners, is located in the Forth Yards Regeneration Area and will comprise a mix of one- and two-bedroom apartments across two buildings.
The first of the two buildings is expected to reach completion in December 2026 and the second block will follow in January 2027. The parties did not confirm the size of the loan.
Ross Blair, senior managing director and country head of UK and Ireland at Hines, said: “We are thrilled to partner with HSBC as we move into the next phase of construction at this new development, bringing us one step closer to building more quality housing for Newcastle. We are proud to be supporting the net zero targets of the city.”
Darren Wilson, head of private rented sector at HSBC UK, added: “This is an exciting development showcasing the economic growth and appeal of Newcastle for businesses and residents. This project should help address the wider demand for housing in the city and contribute to wider regeneration plans for the area. Whilst we have worked with Hines for a while, this is our first residential scheme and so we are excited to watch the development come into fruition.”
