Ambitious regeneration plans inspiring property investment in NewcastleGateshead
- New £250 million arena planned for Gateshead Quayside
- North East property prices currently cheapest in England (UK Government HPI)
- Regeneration projects driving interest in NewcastleGateshead properties such as Hopper House (Surrenden Invest)
Sitting opposite each other on the banks of the River Tyne, Newcastle and Gateshead share many attributes. Residents benefit from access to both of the bustling urban areas, thanks to the seven bridges that join them across the river. Now, the NewcastleGateshead area is enjoying another joint boost – an inspirational vision for the next phase of the regeneration of its quayside area.
The quayside is already popular on both sides of the river, having undergone development work in recent years that has created an exciting, vibrant district with plentiful leisure facilities and food outlets, including a container village serving superb street food. The latest plans will build on that success, adding Europe’s tallest observation wheel on the Newcastle side of the river (to be known as the Whey Aye), and a 10-acre leisure complex on the Gateshead side that includes a £250-million, 12,500-seat arena, a conference centre and two hotels. A number of bars and eateries are also planned.
Specialist property investment agency Surrenden Invest, which has been selling investment properties in both Newcastle and Gateshead for some time, has welcomed the regeneration plans as yet another reason to support residential property investment in this thriving area of the UK.
“With their North East location, properties in NewcastleGateshead already enjoy one of the lowest entry points in England, as the region is leading the country in terms of cheap house prices. This means that investors can pick up superb quality buy to let apartments for less than they can in many other similarly sought-after urban areas. The recently announced regeneration plans will serve to further increase interest in this part of the North East, both as a tourist destination and as a place to live and to invest.”
Jonathan Stephens, MD, Surrenden Invest
As at October 2018, the average home in the North East cost just £128,484, compared to a UK average of £231,095, according to the government’s UK House Price Index. That’s despite many buy to let properties there offering comparable yields to those found in other UK cities. Add in the exciting new developments and the case for investment is certainly a tempting one. As Councillor Martin Gannon, Gateshead Council leader points out, such plans are “a game-changer not just for Gateshead but for the region.”
The stir created by the regeneration plans is driving interest in the region, with developments such as Gateshead’s Hopper House benefitting as a result. The 81 stylish studio apartments are perfect for those looking to make the most of life in Gateshead. Located just over 10 minutes’ walk from Gateshead Quayside, the apartments come with an on-site sauna, steam room and gym with adjoining sun terrace, as well as a spacious reception area complete with concierge desk and pool tables.
“Projects such as the Gateshead Quayside arena and the Whey Aye speak to the future potential of this lively area. These are long-term plans that demonstrate a commitment to Gateshead and Newcastle’s residents, as well as to attracting visitors from elsewhere. Such plans are a key component of the region’s future economic success and make it an exciting time for investors looking for combine great entry prices with healthy yields.”
Jonathan Stephens, MD, Surrenden Invest
For more information, visit www.surrendeninvest.com or call 0203 3726 499