Newcastle’s Largest Multifamily Development Will Comprise of 500 Net Zero Homes
Global real estate investor Hines are to fund a development of 519 net zero homes in Newcastle in partnership with Olympian Homes.
The Pottery Lane scheme, which is being funded through Hines European Property Partners (HEPP) fund, will be Newcastle’s largest multifamily development.
Sustainable technologies such as geothermal heat pumps and on-site solar PV will make the all-electric development net-zero-enabled from day one.
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.”
Pottery Lane will benefit from a wide array of local amenities
As Hines’ first Newcastle development, the 325,000 square-foot Pottery Lane scheme will be situated on the River Tyne, offering waterfront views and direct access to the city’s river path.
The site, being only a short walk from Newcastle Central Station and 1.6km from the city’s core retail submarket, also offers exceptional national rail links and a variety of local amenities.
Furthermore, Pottery Lane sits within Newcastle’s Forth Yards Regeneration Area, a priority zone for new investment at the core of Newcastle’s repositioning as a regional hub for the tech, life science and innovation industries.
Pottery Lane is also close to The Helix, Newcastle University’s new £350 million tech and life science quarter being delivered in partnership with L&G, as well as Pilgrim Place, a new 400,000 square-foot office-led, mixed use destination in Newcastle city centre.
Olympian Homes will deliver the scheme in two phases
Backed by their extensive experience in delivering sustainable buildings worldwide, Hines have adapted the scheme to deliver a building that meets HEPP’s strict ESG targets.
Olympian Homes will deliver the first phase of the Pottery Lane scheme, an 11-storey block comprising of 292 private units, by Q4 2026.
The scheme will be completed in 2027 with the addition of a six-storey block comprising of a further 227 homes.
A mixture of one and two-bedroom apartments will be available, and the development will also feature 10,000 square-feet of amenity space including a gym, co-working facilities, two roof terraces, and 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.”
James Lindridge, Development Director and COO for Olympian added: “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.”
Pottery Lane will go some way in addressing the undersupply of Newcastle’s rental market, which experienced a 64% fall in the number of property listings in the city over the past year, the biggest drop of any of the UK’s core cities.
