Keepmoat Homes, the busiest private house builder in Newcastle, has bought out Barratt Homes’ interest in the New Tyne West Development Company (NTWDC) – the joint venture behind the award winning* Scotswood development, The Rise.
The deal paves the way for the regeneration specialist which, since 2016 has built almost 800 homes across eight sites in the city, to support a further £120 million investment by NTWDC in the project over the next five years.
Keepmoat will double construction output, delivering at least 100 homes a year – around 30% more than when working in tandem with Barratt.
Work has already started on phase two of the project, with the first ten homes occupied before Christmas and plans are being drawn up for phase three. Together, this will create over 500 family homes, as well as more work, training and community support opportunities at The Rise.
The New Tyne West Development Company (NTWDC) – a partnership launched by Newcastle City Council with Keepmoat Homes and Barratt Homes – was established to breathe new life into the west of the city through a £265 million, housing led regeneration programme.
Since building began in 2013, almost 400 homes have been completed – 332 for private sale and the remainder for affordable rent and shared ownership.
Local community and charity groups have benefitted from up to £75,000 each year from a fund set up to support a range of educational, art and environmental initiatives, celebrating the area’s history. Access to employment, schools and non development apprenticeships projects have also been backed, whilst on site, an estimated 50 jobs have been created and 15 apprentices started.
Lee McGray, NTWDC Director, said: “We are delighted that Keepmoat Homes has committed to continue its investment in The Rise, just as phase two of the development is beginning to sell, with new show homes open for safe viewings and planning consent anticipated for phase three.
“Of course, as well as the much needed homes, Keepmoat brings an excellent track record of community support and involvement which have been key factors in the success of the project.”
Ian Hoad, Divisional Chairman with Keepmoat Homes, added: “Our confidence that this project would deliver positive change in the west of Newcastle has proved well founded and we had no hesitation in extending our commitment to continue the drive for social and economic regeneration here.
“Along with ventures in Glasgow, Edinburgh, Sheffield and Northfleet on the River Thames, The Rise is now one of our key flagship projects, delivering quality, affordable new homes and improving opportunities for the new and surrounding communities.”
Newcastle City Council’s Cabinet Member for Employment and Culture, Cllr. Ged Bell, said: “I would like to place on record my thanks to Barratt for playing such a critical part in the birth of The Rise and the West End.
“Keepmoat is a significant company on the national housing scene and even more so here in Newcastle, so it’s exciting they will increase their commitment to building more homes and all the social benefits that brings with it.
“Not only is The Rise synonymous with the redevelopment of this once proud part of Newcastle but it’s creating apprenticeships and jobs – feeding the local economy and giving opportunities to residents at a time when they have never been needed more as we emerge from a pandemic.
“I wish them well and look forward with confidence to further progress at The Rise.”
The project received a further boost last week, when The North of Tyne Combined Authority approved a £2.9 million grant towards the latest development phases.
When completed, The Rise will comprise around 1,800 homes with its own £6 million district heating system – already in place – and a neighbourhood centre, including community, retail and health provision space.