Buccleuch Property has sold part of the site of Newcastle-upon-Tyne’s former Tyne Tees Television Studio to Home Group for high quality, affordable housing on the quarter of an acre site between Howard Street and City Road as part of a £3.5 million investment.
Work will start in this month on the multi-million pound project which will provide a five-storey residential development, designed by Glasgow-based architects Anderson Bell Christie, comprising 30 apartments with associated parking, cycle spaces and landscaping. The development is supported by a £900,000 contribution from the Homes and Communities Agency in order to provide much-needed affordable rented and shared ownership apartments.
Sandy Smith, Buccleuch Property’s development director, is delighted that the sale of the site will provide housing to help meet the needs of the local community.
“Since we obtained a hybrid planning consent for the redevelopment of the former Tyne Tees Television Studio site in 2012 we have worked closely with Newcastle City Council and Home Group to secure detailed planning consent to enable affordable housing to be built. The mixed use site will also include a hotel and student accommodation provided by U-Student, who have already acquired part of the site and are currently constructing a 385-bed scheme scheduled for completion in August 2014.”
Tony Osborne, Development Manager for Home Group, one of the UK’s largest providers of high quality housing and supported housing services and products, is pleased to have acquired such a prime site in Newcastle.
“There can be a lot of competition for city centre sites so we are thrilled that as a result of working closely with Buccleuch Property and Newcastle council and university we have been able to acquire this valuable site to provide affordable residential housing for the local community.”