Newcastle site with consent for 128 apartments hits the market
The 0.6-acre freehold site on Crawhall Road is being marketed by property adviser ATRE, with offers invited through an informal tender process.
Planning consent has already been granted, providing an opportunity for a developer or investor to bring forward the residential scheme close to Newcastle city centre. Originally, Calmont Group obtained permission for the project, although variations have been made to the scheme since then.
The site, which is being sold by a private investor, is around half a mile east of the city centre and immediately above the Quayside, at the top of the Ouseburn Valley. Manors Metro station is around a quarter of a mile away, while Newcastle Central Station is approximately one mile away.
Ouseburn has developed from its industrial past into a cultural and creative quarter, with former warehouses and industrial buildings now occupied by studios, music venues, independent restaurants, bars and creative businesses.
The area has also attracted a growing residential population, particularly among younger professionals and graduates.
ATRE said the development opportunity was further supported by Newcastle’s growing professional population, two major universities, and an economy spanning sectors including digital, life sciences and professional services.
The agent said there was particularly strong demand for private rented housing in the city centre, with private renters accounting for more than 56% of households in the NE1 postcode.
It also highlighted what it described as a shortage of institutional Build to Rent accommodation in Newcastle.
The city currently has one operational institutional Build to Rent scheme, according to ATRE, which said Newcastle had the lowest BTR penetration of any major regional city.
The site is being offered for sale as a freehold interest, with further information available from ATRE.
Richard Turner of ATRE said: “Crawhall Road represents a rare opportunity to acquire a substantial, cleared development site in one of Newcastle’s most distinctive and dynamic neighbourhoods.
“The combination of an implemented planning consent, a highly accessible city-centre location, and the exceptional appeal of Ouseburn creates a compelling proposition for residential developers and investors.
“The site also offers considerable flexibility. While the existing consent provides an immediate route to a 128-apartment residential development, pre-application discussions have already been undertaken for a 200-unit co-living scheme, and the site could potentially accommodate other uses, including student accommodation, subject to planning.”
