Developer ‘thrilled’ to aquire city centre plot

PROPERTY developer Downing has acquired a 14-storey student accommodation scheme set to take shape in Newcastle city centre.

The derelict site in Heber Street was home to Lock and Key and the attached NE4 cafe until it was destroyed by as fire in 2015, eventually leading to its demolition.

The plot of land close to St James’ Park has been vacant ever since, but plans to create new student homes were signed off by the council last year.

Now the planned scheme, called Heron’s Yard, has been snapped up by Liverpool developer Downing, which was also behind two other student accommodation complexes nearby, Verde and The View.

Heron’s Yard is set to provide a 411-bedroom scheme in a mix of 293 standalone studios and 118 cluster beds in Heber Street, and marks the final phase of Downing’s development Downing Plaza.

The development also features 120,000 sq ft of teaching space for Newcastle University Business School, over 1,800 student bedrooms, a 183-room hotel, and retail space.

Designed by architect Simpson Haugh, Heron’s Yard will include a landscaped, private courtyard as well as communal space for students to use for socialising, relaxation, and studying.

Downing said the acquisition comes as it looks to grow its purpose-built student accommodation portfolio, while also cementing its presence in key UK university cities.

Martin Fenlon, associate projects director at Downing, said: “We are thrilled to have acquired this prime site in Newcastle to complete our vision for Downing Plaza.

“This is the latest in a line of key strategic acquisitions for us as we continue to expand our portfolio across the country.”