Hines has agreed to forward fund the development of a 519-unit residential scheme in Newcastle on behalf of its Hines European Property Partners (HEPP) fund in partnership with developer Olympian Homes.
Once complete, Pottery Lane will form the city’s largest multifamily development. Plans propose an all-electric scheme powered by geothermal heat pumps and on-site solar PV making it net-zero enabled from day one.
The scheme represents Hines’ first move into Newcastle occupying a prime location on the River Tyne, offering waterfront views and direct access to the city’s river path. A short walk from Newcastle Central Station and 1.6km from the city’s core retail submarket, the site benefits from exceptional national rail links and a variety of local amenities.
The Pottery Lane scheme will be built in two phases by Olympian Homes, with a total area of 30,193m2. The first block, which will have 11 floors and 292 private units, will be completed in Q4 2026. The second block, which will have six floors and 227 units, is expected to be delivered in 2027. In addition to rental apartments with one or two bedrooms, the development will include c. 929m2 of amenity space, such as a gym, co-working facilities, two roof terraces, and a cinema room.
Ross Blair, Senior Managing Director and Head of Hines UK said: “The rapid growth of Newcastle’s tech and innovation sectors, paired with its rising population and the strong reputation of its higher education institutions, is driving increased demand for high-quality rental accommodation in the city centre, particularly among young professionals. The scheme’s strong amenity provision and market-leading ESG credentials align with the post-pandemic priorities of Newcastle’s young professional renters. Its outstanding location adjacent to the waterfront and proximity to some of the city’s most ambitious new development projects will further enhance its appeal to this demographic in the coming years.”
Jorge Duarte, Senior Managing Director and Fund Manager for HEPP said: “The creation of rental accommodation in areas of high demand and low supply is a high-conviction investment theme for us. We believe this ambitious scheme provides a blueprint for how private capital can be deployed to deliver both value for our investors and the high-quality housing supply the UK and Europe so clearly needs.”
James Lindridge, Development Director and COO for Olympian said: “We are excited to deliver such a high-quality BTR asset in partnership with Hines and RG Group. Newcastle is a flourishing city with growing tech business centres, this scheme will help manage the housing supply/demand imbalance in the city by providing high-quality, highly sustainable homes to local residents. We would like to thank Newcastle City Council for their ongoing commitment and support in the delivery of this scheme and the wider Forth Yards development.”
CBRE advised Hines on the transaction.
Image provided by FTI Consulting.
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