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News - 28/03/2017

Green light for £60m student housing development in Newcastle

Yorkshire-based property developer Marrico Asset Management, advised by Lambert Smith Hampton (LSH) as planning consultants, has been given the green light for a £60m student housing scheme opposite St James’ Park in Newcastle city centre.

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The City Council approved the plans, subject to securing a section 106 agreement, which will see the land above St James’ Metro station between Strawberry Place and Gallowgate transformed to create two apartment blocks capable of accommodating a total of 390 students.

Works are expected to start on site late this year or early 2018.

Marrico Asset Management also intends to build a 17-storey apartment building and 10 floors of office space in a second phase of development on the site, subject to securing planning permission.

Helen Marks, Director of Planning and Development Consultancy at LSH in Newcastle, commented: “Having achieved planning consent after quite a complicated application process, the final piece of the jigsaw is now complete.

“Not only will the scheme regenerate the site, which has been underutilised as a public car park for more than 30 years since St James’s metro station was developed, it will also provide vital student accommodation for the city as well as generating substantial employment and economic benefits, and we look forward to the development taking shape.

Images courtesy of FaulknerBrowns Architects