Construction work is getting into full swing on a high specification £10m development of apartments on the North Shields Fish Quay, looking east over the River Tyne to the pier walls.
Experienced developer Ian Stewart is leading the ‘Shepherds Quay’ project to build 49 apartments and one townhouse in three complementary blocks on the site of a former rubber factory on Clive Street.
The homes are being funded through a joint venture which brings together Mr Stewart’s UKQ Clive Street vehicle with Next Level Developments (part of housing association group Karbon Homes) and the government’s Homes England agency.
Mr Stewart, formerly of Silverlink Property Developments, has brought the funders together to make the project happen, and guided the development through the planning process.
The three blocks of apartments have been designed by Newcastle-based Napper Architects. They will sit in landscaped grounds, with off street parking, and an attractive frontage with benches for public use facing Clive Street.
Womble Bond Dickinson law firm has advised the partners on the land acquisition and wider work surrounding the joint venture.
The completed homes will be marketed by estate agent Bradley Hall.
Ian Stewart said: “Shepherd’s Quay will be a stylish development that sits right on the riverfront in an area that offers cultural experiences, vibrant restaurants, bars and coffee shops with something for everyone to enjoy.
“I am delighted that it is finally under way and believe that it will add significantly to the area by providing quality homes in the most attractive of settings.”
Sarah Robson, development director for Karbon Homes, said “It’s a great opportunity for Next Level Developments to get involved in this ambitious, high quality development.
“This is a first class site which we’re confident will provide fantastic homes with amazing views. Supporting a market driven project like this means Karbon can re-invest in our development programme elsewhere in the region which will deliver around 500 new affordable homes this year.”
Lewis McNicholas, Senior Manager in Development Finance for Homes England, said: “Accelerating housebuilding remains a top priority for the Government and through the Home Building Fund, Homes England is able to support SMEs to unlock sites for development. This funding will support Ian Stewart and Karbon Homes to regenerate this brownfield site and support the wider regeneration of the iconic Fish Quay.”