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£40m Newcastle Student Development Granted Approval

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Plans to build a £40m student accommodation development in Newcastle have won the backing of councillors.

Last week plans put forward to demolish the empty Technopole office block at Newcastle's Kings Manor Business Park and build two blocks were approved without any debate.

The proposed development has been put forward by Adderstone Group and iQ Student Accommodation and will be able to accommodate up to 535 students in 162 apartments. The building will also feature a student hub, gym, dining spaces, a games room and a cinema room.

The project will be one of the largest single private student accommodation developments the area has seen.

Not only is the development expected to create hundreds of jobs during construction, it is also anticipated to generate an extra £10 million for the city's economy every year.

Commenting on the scheme, founder and CEO of Adderstone Group Ian Baggett, said: "It has been great to have worked with iQ again, after our successful partnership on their latest development in Collingwood."

"On completion of this latest project more than 2,000 people in Newcastle will be living in homes developed by Adderstone Group. It means a great deal to my team and I too have made such a contribution to the ongoing regeneration of our home city."

As part of the development a Community Infrastrcture Levy of £518,000 will be paid to support the development of infrastructure in the wider area, while a further £133,750 will be put towards pedestrian and cycle improvements between Manors and the city's university campuses.