Forth Yards unlocked as private partner sought
With the announcement of a £120m funding package at Quayside West, Newcastle’s 52-acre regeneration scheme can take another step towards becoming a reality. Place North East was in Newcastle to speak with Homes England interim chair Pat Ritchie, North East Mayor Kim McGuinness, and Newcastle leader Karen Kilgour about what they want from the private sector.
Quayside West lies within the Forth Yards site and is one of its largest parcels of land, 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.
Despite its central location next to the station, complex land issues have so-far prevented Quayside West from being developed.
The £121.8m package for remediation works will now allow Homes England to progress at the site, with the next step being the appointment of a private sector delivery partner.
Speaking to Place North East, Pat Ritchie, former chief executive of NCC and interim chair of Homes England, said: “We’re planning to go out to procurement for a private sector partner in the autumn.
“That procurement takes quite a long time; we have to get the right partner and find the right match, but we’re looking for an investor and a developer for the site that will work alongside the public sector to bring this site forward.
“The investment today starts to de-risk the site and make it more attractive to a private sector investor, because there is contamination, there are [differing] levels which are awkward in terms of access, and we need to really ensure we’ve got a strong plan and we get some of the development work ready to bring in a private sector partner.
“The government coming in and taking some of the risk from the site makes it much more attractive to a private sector investor.
“In the early stages, it’s going to be a mix of public and private [funding]. The key will be to use the public sector investment to bring it forward and do that in a way that builds confidence for the rest of the site, so less public money is needed and more private money comes in.”
L-R: Kilgour, Ritchie, and McGuinness on site at Quayside West on the day the funding package was confirmed. Credit: Place North East
Karen Kilgour, leader of NCC, said: “This is huge for the city. The site has lain empty for around 20 years or more, and the announcement today of the funding means that we can unlock the entire site.
“This is absolutely fundamental to getting this site built on, to create new communities for the city, new spaces, and the impact on the local economy will be huge.”
In terms of how the council will ensure its vision for a mixed-use, sustainable space remains intact, Kilgour was unruffled: “I think the development agreements that we reach in time will make sure that’s locked in. It’s absolutely fundamental.
“This cannot be a site where we just build houses – important and much needed though they are.
“This has to be about building resilient communities, and we can’t do that if we don’t build in the necessary infrastructure, commercial, and retail opportunities as well as residential, and those really important community green spaces.”
Speaking about the importance of the site to Newcastle, Kim McGuinness, North East Mayor, said: “This derelict land is in a great location on the banks of the Tyne yet has stood mostly unused for 20 years, which is a huge waste of potential.
“That’s why we promised to transform areas like this and now that’s exactly what we’re doing. We’ve secured funding so we can get the last brownfield site in Newcastle city centre ready.”
