Development partner sought for Forth Yards
Avison Young is advising Homes England on securing a long-term developer for the 50-acre, city centre brownfield site in Newcastle.
Efforts will initially focus on Quayside West, a 15-acre plot within the wider regeneration site, with capacity for around 1,100 homes – almost half of the 2,500 homes that it is hoped will eventually be delivered over the next 20 years, alongside 161,000 sq ft of commercial space and public realm.
Owned by Homes England, the government agency acquired Quayside West last year and recently secured a £121.6m grant from the Brownfield, Infrastructure, and Land programme to support its delivery.
The funding package will enable vital remediation, groundworks and infrastructure activity, fixing complex land issues that have long acted as a barrier to investment at the site, which has lain derelict for decades.
FaulknerBrowns is the lead architect on the project.
The development partner will need to deliver a 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 to promote active travel.
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.
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, added: “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.”
