The High Street Group Update – Q1 2019fjpinvestment
The High Street Group have recently released an update on the status of all of their current projects. To summarise, the updates are as follows:
- High Street Residential have acquired an additional site adjacent to our existing development Kent Street Residence in Birmingham. ‘Kent Street Baths’ will take HSR’s Birmingham portfolio to an overall GDV of £520 million.
- All Saints Construction continues to grow, with new development sites being purchased. The most recent addition is Hunton in North Yorkshire – 14 detached homes in an idyllic countryside location. The children of nearby Hunton & Arrathorne Community Primary School held a competition to choose the new development name and came up with Arrathorne View.
- High Street Hospitality has refurbished Sea Hotel in South Shields, along with the on-site restaurant and Loca Bar & Kitchen. Within weeks of the renovations being complete the venues began to see a healthy footfall and a number of repeat guests. A brand new sports bar, Bar 52 will open within the Sea Hotel in April. HSH’s next project will be the Parkmore Hotel in Yarm; a full refurb of bedrooms, restaurants and leisure facilities.
See below for the full update on each of the projects.
Kent Street Baths, Plot 1, Birmingham
We are pleased to announce the purchase of Kent Street Baths, Plot 1 for £20m. Kent Street Baths, Plot 1 is a large residential development in the centre of Birmingham, within the regeneration area of the future Smithfield Masterplan. This development will comprise of four blocks around a private courtyard, within a central circular hub and will consist of apartments and mixed use developments. This will see the construction of flexible retail, restaurant, leisure or office space and see the provisions for car and cycle parking. The Gross Development Value of this development is £114 million and will be sold to institutional investors.
Previously the site of swimming baths, the area has been under-utilised in the past 30 years. The overall development is located within the Southern Gateway £1 billion regeneration zone, which the government has brought forward as part of the high speed rail network ‘HS2’ masterplan. Through this masterplan, Birmingham will create a world class station that will become a gateway to both the UK and European high-speed rail network.
Kent Street Baths will join our ever increasing portfolio in Birmingham which includes projects such as Westminster Works, Holloway Head and Charter 1. As well as these projects, you may also be aware of our purchase of Kent Street Residence last year (Formerly Kent Street Baths, Plot 2) which was part of the same site. This will see the overall GDV of developments in Birmingham at approximately £520 million.
Hadrian’s Tower, Newcastle upon Tyne
This project is currently in week number 46 and construction is on programme. Works to the central core reinforced concrete structure are complete to Level 20 with the columns, walls and floor slabs to Level 12. Masonry works to the North and South elevations continue.
Brett Wharf, Gateshead
This development, comprising of 220 apartments over two buildings with commercial and communal space, is now in pre-planning. We have submitted a pre-application and have commenced discussions with Gateshead Council and Historic England. Our site sits directly below the Grade 1 High Level Bridge (as pictured) and, as such, has a number of strict regulations which must be adhered to. We expect planning to be achieved in the coming months.
Middlewood Plaza, Salford
This project consists of stylish apartments, townhouses and duplexes and is located in the popular Salford area. Middlewood Plaza features split-height blocks of six and nine storeys, with a total of 127 homes across the site, in the largest of Manchester’s three main regeneration corridors. Renowned contractor United Living began demolition in January 2019 and construction has now started on site, with pile probing taking place in preparation for a piling mat.
Silbury Boulevard, Milton Keynes
Construction on our 139 private rental unit project at Silbury Boulevard in Milton Keynes is progressing well, with rapid transformation both internally and externally. Externally, windows have surpassed the half point of installation, with first and second floors remaining.
The rainscreen cladding system begins shortly with the insulation and bracketry works to be completed first. Internally, apartment and internal partitions are ongoing throughout all six floors, swiftly followed by mechanical and electrical first fit out.
Cheshire Junction, Warrington
The development of our £50 million apartment block and public multi-storey car park in Warrington town centre has started. Planning chiefs approved the scheme to build the eight-storey block, with 362 homes, and a 796-space car park on the site, on Winwick Street and John Street.
The project is on track to officially open in early 2020. Pottery Lane, Newcastle upon Tyne. We have recently acquired a third PRS scheme in Tyneside. Pottery Lane will consist of 220 apartments located between the River Tyne and Utilita Arena, a prime location for regeneration in the city. We are currently in discussion with Newcastle City Council’s planning committee.
Moncrieff View, Lenzie
We have concluded missives on a subject to planning basis with East Dunbartonshire Council to purchase the former Lenzie primary school site. It consists of 11 apartments in the old school building and 9 apartments in a new build extension.
We will have more information in the coming months. Roseate View, Amble. Sales have launched at our new build site Roseate View Amble. The
site consists of 13 detached townhouses and bungalows overlooking Northumberland coastline. Within the first few days of launching, we took
two reservations on site. A show home is currently in development and will be open in Summer
Arrathorne View, Hunton
All Saints Living’s most recent acquisition is Arrathorne View in North Yorkshire. The site consists of 14 houses located in a idyllic country setting. The children of the local primary school held a competition to choose the development name and Arrathorne View came out as the firm favourite.
We’ll have more information on this project as the site progresses.
Sea Hotel 52, South Shields
We have completed phase 2 of refurbishment at The Sea Hotel which included reception areas, restaurant and functions areas. Phase 3 is now underway to update 37 hotel bedrooms to a high quality boutique standard.
Loca Bar & Kitchen is now fully operational and taking regular bookings from repeat diners. El Coddo fish and chip shop has flourished within its first few months of opening and sees a regular footfall of customers. Our sports bar, Bar 52 is due to open its doors Spring 2019.
Parkmore Hotel, Yarm, Stockton-on-Tees
Refurbishment of the Parkmore Hotel has commenced with plans to make this the leading wedding and leisure destination in the North East.
This will include a brand new fine dining restaurant, The Purple Peacock, which will provide delicious brasserie style cuisine. Work on the renovation of the hotel bedrooms will begin in the coming months with the leisure club being renovated shortly after.
The Walled Gardens, Gosforth
The sales of the homes in the North Walled Gardens have now launched and Bradley Hall Estate Agents have so far taken two reservations of these prestigious properties. The show home is currently in development and will be open in time for Summer.