Home Commercial Property Local developer commits to Quayside regeneration

Local developer commits to Quayside regeneration

by LLP Editor
25th May 22 12:19 pm

Newcastle-based property developer Stripe Property Group, has announced the next step in the company’s ambitious expansion plans, with the acquisition and opening of its Quayside base of operations to further establish their presence and bring a wealth of new employment opportunities to an area of Newcastle which is poised for huge growth.

Launched in 2017, Stripe Property Group specialises in housebuilding with a focus on residential and student accommodation across the North East, having more recently expanded down to the Midlands.

The company is headed by managing director and born and bred Geordie, James Forrester, who has over 20 years of experience within the industry across the UK and Europe.

The firm is currently developing a £13 million scheme, Quayside West Studios, located on Skinnerburn Road.

Stripe Property Group’s Quayside West Studios will comprise of 118 luxury studio and one-bedroom apartments offering an ideal opportunity to invest within the heart of Newcastle.

The exciting new development will be located just a short walk from both of the city’s top universities, as well as benefiting from great public transport links and lying within close proximity to a range of bars, restaurants and other desirable amenities.

As part of their commitment to the regeneration of the area, they have also acquired and opened their new office adjacent to the site on Forth Banks.

While a small step in the company’s wider plans for expansion, the opening of this site is a stake in the ground for Stripe Property Group, already providing local jobs for eight outstanding candidates, with more to come.

This team of ambitious individuals will help lead the charge at ground level, with Stripe Property Groupm allowing them the freedom to think and act creatively, while upholding the company’s core values to deliver the highest levels of service.

The exciting growth within the Stripe team mirrors that of the wider area itself, an area that has been tipped as one to watch over the coming years. Stripe Property Group aggressive expansion comes in anticipation of this growth, ensuring they have the resources and expertise to keep pace, while fully supporting their existing endeavours.

Quayside West Studios is the latest in a string of regeneration projects benefiting the waterfront area, with the council-led regeneration of the Stephenson Quarter entering its second phase, having already delivered new hotels, office space, shopping venues and more, bringing 1,000 new jobs with it.

The area is also benefitting from a substantial level of private investment with the Quayside West regeneration project due to transform 15-acres of former industrial land. Stripe Property Group is bolstering this private investment further and expects to appoint its main contractor in as little as 12 weeks, before breaking ground and opening an additional sales office to support with the sale of its Quayside West Studio units.

It’s a proud moment for Newcastle-born James Forrester, Managing Director of Stripe Property Group, who commented:

“While we’ve always played a prominent role in the North East new-build sector, we’re extremely proud and excited to further this influence by opening our new site within the heart of what’s arguably the most exciting regeneration project in the city’s history.

Newcastle is undergoing a great deal of positive change at present and the Quayside West redevelopment is probably the most significant sign of where the city is heading. Part of this masterplan is attracting young people to come and live, work and study within the city, while also bringing a boost to the local economy and providing further employment opportunities.

We’re proud to be leading the charge on both fronts, providing jobs to the local community while delivering high quality student accommodation and we believe that this is just the start of things to come in terms of repositioning Newcastle as the powerhouse of the North East for both businesses and leisure.”

Jen Hartley, Director of Invest Newcastle, who are part of NewcastleGateshead Initiative, said:

“Newcastle city region is renowned for its iconic waterfront, and our quayside is planned to receive an excess of £750m investment across the north and south banks of the river, accelerating growth of the economy and underlining huge transformation and regeneration of the city.

This is an extremely exciting time for Newcastle and the regeneration of the Quayside and West Studios development, led by Stripe Property Group, is no exception, playing their part in this transformation. Not only will this create jobs, but it signifies a commitment to the region, encouraging people to live, work and study in our great city. This is also testament to our strong position as a destination to grow and build a successful business.”

Stephen Patterson, Chief Executive of NE1 Ltd, the Business Improvement District Company for Newcastle City Centre said:

“Exciting times lie ahead for Newcastle’s Quayside and Stripe Property Group’s redevelopment of the Skinnerburn Road site will make a valuable contribution to the further development of this historic area of the city. The new Quayside West development illustrates the investor confidence in Newcastle and reflects wider investment in the area, with over £850 million earmarked for investment in the Quayside over the next five to ten years.

“It’s fantastic to see the transformation of this long vacant brownfield site. The new development and their occupants will greatly add to the vibrancy of the area. We look forward to seeing the development take shape and in time welcoming new people into the heart of the city.”

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