April 30, 2018
by Persuasion PR

Hadrian’s Tower developer has £600M PRS plans

  The developer of Newcastle’s tallest building – Hadrian’s Tower – has agreed a deal to create another site for private rented sector (PRS) apartments, bringing the gross development value…
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How the Birmingham development would look when completed.

How the Birmingham development would look when completed.

 

The developer of Newcastle’s tallest building – Hadrian’s Tower – has agreed a deal to create another site for private rented sector (PRS) apartments, bringing the gross development value (GDV) of its portfolio of proposed projects to more than £600 million.

 

The High Street Group of Companies will work with the owner of the Birmingham City Centre site, Taylor Grange Developments.

 

The £120 million venture, which has planning permission, will create around 500 one, two and three bedroomed apartments close to the The Mailbox retail complex and the planned HS2 rail link.  It is hoped that construction will begin later this year.

 

The consortium is also progressing a £50 million, eight storey, 220 apartment complex in the Digbeth area of Birmingham.

 

Meanwhile, preparations for construction of the group’s flagship development –  Hadrian’s Tower, just off St. James’ Boulevard in Newcastle –  are well advanced.  The £46 million, 26 storey structure will become the city’s tallest building, providing 162 apartments.

 

In addition, plans are being made to create a ‘Sky Lounge’ to allow regular public viewings across the city’s heritage sites and – on clear days – as far as the coast.

 

With its headquarters in Cuthbert House, Newcastle, The High Street Group of Companies was established by Chairman, Gary Forrest, in 2004.  It has grown to become a leading financial and property group employing over 100 people in activities including large scale property development and construction, hospitality and leisure.

 

He said:  “Already almost 17% of the population is renting privately and this figure is expected to grow significantly.

 

“In response, we are creating high quality living spaces in town and city centres, future proofed through the use of the latest SMART technologies.  There are communal relaxation facilities, where people can meet, form friendships and build new communities.

 

“This style of living is becoming the choice of young professionals and we anticipate increasing our investment levels by around £200 million per year for several years to come.

 

“Our developments offer extremely attractive investment opportunities for institutional and individual investors who can enjoy yields and capital growth in excess of seven per cent per annum.  These are none volatile, high quality assets offering attractive, long term returns, which we can maximise for our partners.”

 

Construction is also underway at Milton Keynes, where a £30 million investment is creating a seven storey facility containing 139 apartments.  Grainger plc, the UK’s largest listed residential landlord has unconditionally agreed to forward fund and acquire this development.

 

Other schemes announced include Middlewood Plaza, a £26 million, nine storey, 127 apartment development in Salford, for which planning permission is approved; Cheshire Junction, a £46 million, eight storey, 362 unit project in Warrington and Talbot Road, a £22 million, ten storey 156 apartment initiative in Trafford, Manchester.

 

Altogether these schemes comprise a £340 million investment in 1,666 units.  A further three prospects, being seriously considered, would bring The High Street Group’s investment in PRS to more than £600 million – creating almost 3,000 apartments.

 

For more information visit www.thehighstreetgroup.com

 

 

To request a copy of this news release or for more information, please email: paul@persuasion-pr.com

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