Rapidly expanding developers The High Street Group are to drive forward a £120m transformation of Newcastle’s strawberry place, it has emerged.
Newcastle based development and regeneration specialist The High Street Group has bought a controlling interest in the company that acquired Strawberry Place from the football club owner Mike Ashley, for just over £10m.
The serial retail and property entrepreneur sold the land alongside the Newcastle United football ground for £9m to Helios Real Estate and Marrico, who applied and received planning permission last year, to create a massive hotel, housing and office development made up of four buildings.
Councillors gave the green light to the scheme despite a backlash from NUFC supporters, who fear the mixed use development will obscure views of the football stadium and potentially hamper future expansion of the club.
Durham based Helios Real Estate and Leeds based Marrico are both still involved in the scheme as smaller shareholders, and High Street Group will be the main firm to develop the site, as per the planning permission granted last year.
The site, which is currently mainly car parking between the Strawberry pub and The Gate, would comprise four blocks.
Earlier plans for student housing were scrapped to in favour of new housing and offices which are both in demand.
Blocks A and D would be residential, including a 21 storey tower with over 300 residential apartments.
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High end offices would be provided in block B, of which 40% has already been pre-let.
The hotel, bars and restaurants would be in Block C, in an ideal location for any city centre resident or visitor.
Garry Forrest, the chairman of High Street Group, is now reaching out to Newcastle United fans to find out what kind of new facilities would improve match days.
Mr Forrest, who is a former non-league player and current manager of West Auckland, said: “This significant investment in Newcastle is part of the High Street Group’s continued mission to build communities and regenerate city centres.
“Our vision is to create a true community hub with leisure and retail facilities, a magnificent new hotel, luxury apartments at affordable rents and high quality office space.
“It is a hugely exciting opportunity to radically improve our city, bring investment and help to create hundreds of new jobs.
“I know some fans are concerned about how it may affect possible future development of the ground but there are no firm proposals for this at present and there are other options.
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“This innovative idea would offer the thousands of fans who flock to St James’ Park a much wider choice of quality restaurants and bars, which would provide the ideal setting for pre and post-match revellers.
“However, it would also enhance the whole of the city for locals and visitors.
“And we want to bring the whole of the city with us so, when the detailed plans are completed, we will listen to the views of local businesses, residents and football fans. Their comments will inform our progress.”
High Street Residential, part of the High Street Grou, is already developing Newcastle’s tallest building, the 83 metre Hadrian’s Tower, a stone’s throw from St James’ Park in Rutherford Street. It is delivering 161 apartments for sale and private rent, with a Laurent Perrier Champagne Lounge on the 27th floor.
Other projects include eleven further developments of apartments for private rent (PRS) – one in Pottery Lane, Newcastle; another at Brett Wharf in Gateshead; four in Birmingham, two in Manchester and others in Milton Keynes, Salford and Warrington.
These will provide over 3,000 apartments and have a gross development value (GDV) of £644m.
When other PRS projects under investigation are added, the number of units is around 5,000 and the GDV £1.1bn.
The High Street Group is also investing around £60m in the development of award winning homes for sale on sites across the 海角视频.
A hospitality division has five hotels – and plans several more – together with 15 food, beverage and leisure venues.