Homes England has appointed Avison Young to secure a development partner to drive forward the transformation of Forth Yards in Newcastle.
The strategic redevelopment opportunity covers 50 acres of land in the city centre and has capacity for around 2,500 homes.
The initial focus will be on Quayside West, a 6.2-hectare parcel of land within the wider Forth Yards regeneration site that has the capacity for around 1,100 homes.
Homes England is seeking a development partner to deliver a comprehensive, place-based regeneration scheme with a focus on quality of design, sustainability and community.
The scheme will comprise mixed tenure residential, commercial and community space and new public realm.
Stuart Howie, principal and devolution delivery lead at Avison Young, said: “We are delighted that Homes England has selected Avison Young to advise on the delivery of this critical regional project. It’s a complex regeneration project that we are already very familiar with, having supported Homes England to secure the recently announced £121.6m funding package, and we look forward to helping them secure the right long-term delivery partner.
“Forth Yards is an unrivalled opportunity to transform one of Newcastle’s most strategically located sites into a thriving, sustainable neighbourhood. We are delighted to be working alongside Homes England and its partners to secure a development partner that shares the same vision for creating a destination that seamlessly connects this brand-new community with the wider city and waterfront.”
Duncan Inglis, director, North – markets, partners and places at Homes England, added: “The appointment of Avison Young to search for a development partner for Forth Yards is a significant milestone and highlights our commitment to transforming previously undeveloped brownfield sites into thriving communities. Avison Young brings a wealth of experience in procuring development partners for complex regeneration schemes, as well as a deep understanding of Forth Yards and the city.
“With the new funding package and support from our partners – Newcastle City Council, the North East Combined Authority and Network Rail – we’re looking forward to working with Avison Young to find an accomplished development partner with a track record of delivering schemes with placemaking at their heart.”
Gordon Hewling, regional managing director, Newcastle, at Avison Young, said: “We’re incredibly proud to have been appointed to advise on the delivery of another transformational project, which will support the city’s continued growth and regeneration. Newcastle’s proactive approach to placemaking and regeneration continues to appeal to market investors and attract capital to the region. We look forward to seeing the high-quality development and placemaking that will follow, delivering a scheme that represents the bold ambition of the North East.”
