Complete Investor Update – 15 Latest Developments at The High Street Groupfjpinvestment
It has been a busy year for the High Street Group, with major milestones including construction at Hadrian’s Tower beginning to take shape, this being the tallest building in Newcastle, as well as over £1 billion worth of developments in the pipeline.
High Street Hospitality has further expanded with the recent acquisition of the Sea Hotel in South Shields and the Parkmore Hotel in Stockton-on-Tees. All Saints Construction continue to add to their ever increasing portfolio which includes at least four more projects coming in 2019.
HIGH STREET RESIDENTIAL
Hadrian’s Tower, Newcastle upon Tyne
Tolent Construction is continuing to progress well on Hadrian’s Tower. Level 4 of the structure has now been cast, level 5 is beginning to take shape and the stair and lift shafts of the building are now up to level 9. Sales are progressing well, with 57 out of the 162 apartments sold to date.
Kent Street Residence, Birmingham
Sales have recently been launched through IP Global on our Birmingham City Centre site. IP Global are a recognised and well received property agent selling internationally, and have thus far achieved 50% off-plan sales.
Silbury Boulevard, Milton Keynes
With a massive 15,000 metres of steel, weighing over 750 tonnes, High Street Residential’s £30 million development project in Milton Keynes is taking shape at a rapid pace.
Midlands Director for United Living, Richard Baker, said: “This is a milestone development for United Living as it is the first project we’ve undertaken for the private rental sector. The team has made fantastic progress and we’re pleased to see these much-needed new homes are taking shape for the benefit of the local community.”
Helen Gordon, CEO of Grainger plc, said: “We are pleased with the progress of our first development in Milton Keynes and look forward to bringing great quality homes combined with our expertise and commitment to great service to the city.”
Brett Wharf, Gateshead
Having recently taking ownership of the Brett Oils depot located in Gateshead Quayside, High Street Residential plans to build approximately 250 high quality apartments within the private rented sector.Discussions with the local planning authority are underway, and a formal application is soon expected to be submitted.
Group chairman Gary Forrest said: “The Brett Wharf scheme will add to our contribution to the regeneration of the Newcastle Gateshead Urban Core. The former oil depot site is perhaps the last prime development site in the heart of the Newcastle Gateshead Quayside with direct river frontage.”
Middlewood Plaza, Salford
Middlewood Plaza has just achieved planning permission and construction is scheduled to start in January of 2019. The project is located in a highly desirable location in Salford, Manchester and is going to deliver 127 houses, in an area which is currently part of the main regeneration of Manchester.
The project will consist of six and nine storey blocks and will include bicycle access, enabling better connectivity with the city centre.
Cheshire Junction, Warrington
Cording Real Estate Group have backed the project in Cheshire Junction, Warrington after investing £40 million into the project, with construction now due to begin this month.
Director of residential acquisitions at Cording, Charlie Miller, said: “The site’s location, opposite the train station and within walking distance to Warrington’s town centre, is very attractive for future residents and commuters to Liverpool or Manchester.”
HIGH STREET HOSPITALITY
Sea Hotel 52, South Shields
High Street Hospitality have recently taken over The Sea Hotel to bolster the companies portfolio in the hospitality sector. the hotel was purchased in a £1m deal, with further funding of £750,000 to be used to update the property to appeal to modern consumers.
Managing director, Phill Brumwell, said: “We are delighted to add such a well known, iconic hotel to our fast growing chain. We will improve the facilities to a very high standard, creating a boutique hotel with an array of food and beverage outlets”.
Rustica Trattoria & Inn (The Three Horse Shoes), Washington
In addition to Sea Hotel 52, the purchase of The Three Horse Shoes in Washington has also been purchased by High Street Hospitality. There are plans to construct a third Hotel 52 brand, with the hotel boasting 58 bedrooms. The purchase includes the Tavistock Italia restaurant, which the company plans to renovate.
Pending planning approval, construction aims to go ahead early next year, creating work for local contractors and within the hotel operation. Using a modular construction technique, the overall timescale for the project should be shorter than a standard build.
The Parkmore Hotel, Yarm, Stockton-on-Tees
The Parkmore Hotel has also been purchased by High Street Hospitality, with plans to invest £1 million to renovate and refurbish the hotel to facilitate for wedding and leisure purposes in the area. The renovation will improve the spa and function facilities, and will enhance the 55 bedrooms, targeting the boutique sector. Work is due to start on this development in early 2019.
Loca Bar & Kitchen, Whitley Bay
Nominated in the Leisure & Tourism category at the North Tyneside Business Awards in November, Loca Bar and Kitchen have a fantastic reputation in the area. With plans for opening a second chain imminently, and a third planned for early 2019, this brand encompassed by High Street Hospitality is soaring.
ALL SAINTS CONSTRUCTION
Student 52, Newcastle upon Tyne
With an ever increasing demand for student accommodation in the Newcastle area, this project will be converting Northumbria University’s former offices into 46 student apartments. Located in Newcastle city centre, the location for the development is hugely appealing to students. The project is expected to complete in March 2019 by All Saints Construction.
Work on the Roseate View project is under way, which will be delivering 13 three and four bedroom properties consisting of town houses and bungalows. Development is catered towards families and the older generation respectively, and will be carried out by award winning developer All Saints Living, delivering the £4 million project in Amble, Northumberland.
Managing Director of All Saints Construction, Kirk Thompson, said: “We are delighted to be able to showcase how our new Amble development will look. The townhouses will be ideal family homes with bi-folding doors opening to glass fronted balconies, enjoying sea views.”
Larbert House, Falkirk
Another development recently launched by All Saints Living are the properties that extend from Larbert House. All Saints have appointed Clyde Property, a leading estate agents in the area, to manage the sales of the units.
Morar House, Helensburgh
In addition to Larbert House, Clyde Property have been appointed by All Saints Living to manage the sales of the mansion house and extensions of Morar House in Helensburgh. With demand high for the plots, with two already reserved, the property looks set to sell out, and with good reason. The property is idyllic and boasts beautiful surroundings around the building and extension.
The Walled Gardens, Gosforth, Newcastle upon Tyne
Launching in January, the residential development of The Walled Gardens in Gosforth, Newcastle upon Tyne, has been progressing very well, with all units within the Southern Garden now sold.