High Street Residential – part of the High Street Group of Companies - and the developer behind Hadrian’s Tower, plans to transform Brett Wharf, the former Brett Oils Depot in Gateshead.
The project will include a range of 264 one to three bedroomed apartments, duplexes and penthouses offering a riverside address only a short walk from all the quayside attractions on both sides of the Tyne.
Each property will be designed with practicality and style in mind, as well as being future proofed using the latest technology and applications to support individuals’ busy lifestyles and reduce energy costs. There will also be commercial and retail facilities.
Garry Forrest Chairman of the High Street Group of Companies – of which High Street Residential is part - said: “Developments like Brett Wharf are helping to tackle the demand for housing for young professionals working in the city.
“The average age of a first time home buyer in the UK is over 30 and people are increasingly choosing to rent. Already 19% of people do so and that figure is expected to rise rapidly over the next 20 to 30 years.
“We aim to meet this demand, by delivering high quality living spaces in town and city centres, with communal relaxation and leisure facilities where people can meet, form friendships and build new communities.”
In addition to Brett Wharf, work is already well underway on the 27 storey, 83m high Hadrian’s Tower – Newcastle’s tallest building - with around three quarters of the 161 apartments already sold.
Completing the developer’s portfolio in the North East is the Pottery Lane plot, also located close to the river, in Newcastle, which would be the third Private Rented Sector (PRS) scheme to be built on Tyneside by High Street Residential.
Nationally, High Street Residential is constructing or preparing to build eight other PRS developments in Birmingham (four), Manchester, Milton Keynes, Salford and Warrington .In total these ten projects would deliver around 3,000 apartments with a gross development value of more than £1 billion.