Citygrove Securities has sold a private rented sector development site in Newcastle to All Saint Living.
The city centre site, which fronts St James’ Boulevard, has detailing planning consent for a 26-storey scheme comprising 162 one- and two-bedroom flats.
The £40m scheme, designed by architects FaulknerBrowns, will be the second-tallest building in Newcastle, standing at 88m. The development will complement the ongoing investment in the city centre including the nearby Science Central scheme and will rejuvenate a derelict former warehouse site.
Citygrove chairman Toby Baines said: “This is one of the first private rental sector schemes in Newcastle city centre and helps meet the city’s growing demand from young professionals and graduates for high-quality accommodation in this area.”
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