BLOCK CAPITAL
Plans revealed for another huge development near St James’ Park
NEWCASTLE United owner Mike Ashley has sold a prime plot of land in the shadow of St James’ Park to developers who will now transform it in a £120m mixeduse scheme.
Planning permission was granted last year to transform the car park at Strawberry Place and create 115,000sq ft of office space, 162 residential apartments and accommodation for 420 students in moves which will see the repositioning of an entrance to St James Metro Station.
The planned development had proved unpopular with some Newcastle United fans, who said it prevented any future expansion of the club’s ground.
Durham developers Helios Real Estate and Marrico have bought the site from billionaire Mike Ashley’s MASH Holdings in a multi-millionpound deal which will see work start later this year, creating hundreds of jobs through the construction.
The joint venture will trigger the creation of four separate buildings, from eight to 16 storeys high, and Helios founder and chairman Trevor Cartner said a contractor will soon be appointed, with discussions already under way with a number of potential occupiers.
The entire scheme is due to be completed in 2021.
Trevor Cartner of Helios said: “It’s an exciting time – our target is to be on site in the middle of this year. There is a shortage of good-quality office accommodation in the city centre and strong demand resulting from a lack of development in recent years.
“This is the best remaining site in Newcastle and we are confident that occupiers will find it attractive. The proposed range of top-specification one- and two-bed apartments will benefit from being next to St James Metro and on the main road into the city centre.”
Yorkshire-based Marrico had originally submitted a planning application for the scheme, currently used as a car park, back in 2015. The firm’s
Mark Barnes said: “This means that our development at Strawberry Place, the final remaining part of undeveloped land in this area, can now move forward with confidence.
“The offices will be built to BREEAM [Building Research Establishment Environmental Assessment Method] excellent standard and will incorporate a number of innovative features to appeal to tenants. We have carried out a lot of research on all aspects of the site and are confident the scheme will provide high-quality buildings for this range of uses.”
BNP Paribas is advising the developers, with Ryder Architecture responsible for design and RBA Associates handling project management.
There is a shortage of good-quality office space in the city centre and strong demand