City Lofts is making its debut in Newcastle at St Anne’s Quayside by snapping up a prime waterfront site from Crosby Homes for more than £5m.
The upmarket housebuilder plans to develop some of the most expensive apartments in the city on the cleared site, which originally had planning consent for office use.
Around 122 luxury units alongside 929m2 (10,000 sq ft) of leisure space is proposed.
Prices will be around £2,422 per m2 (£225 per sq ft).
Newcastle has limited residential stock. Julian D’Arcy of Knight Frank, which advised Crosby, said: “This is going to shake up local developers because of City Loft’s product.”
