Hines teams up with Olympian for 519-home Newcastle BTR scheme

Hines has agreed to forward-fund the development of a 519-home build-to-rent scheme in Newcastle on behalf of its Hines European Property Partners fund in partnership with developer Olympian Homes. The 325,000 sq ft Pottery Lane scheme will be delivered in two phases by Olympian. The first 11-storey block, comprising 292 private homes, will be completed in Q4 2026, with an additional six-storey, 227-home building due for delivery in 2027. Alongside a mix of one- and two-bed rental apartments, the scheme will provide 10,000 sq ft of amenity space including a gym, co-working facilities, two roof terraces and a cinema room. The scheme, which is Hines’ first move into Newcastle, is located on the River Tyne with waterfront views. It also sits within Newcastle’s Forth Yards Regeneration Area, a priority zone for new investment at the core of Newcastle’s repositioning as a regional hub for the tech, life sciences and innovation industries. Pottery Lane is close to the Helix, a new £350m tech and life sciences quarter being delivered by Newcastle University and L&G, as well as Pilgrim Place, a new 400,000 sq ft office-led mixed-use destination in the city centre. Ross Blair, senior managing director and head of Hines UK, said: “The rapid growth of Newcastle’s tech and innovation sectors, paired with its rising population and the strong reputation of its higher education institutions, is driving increased demand for high-quality rental accommodation in the city centre, particularly among young professionals. “The scheme’s strong amenity provision and market-leading ESG credentials align with the post-pandemic priorities of Newcastle’s young professional renters. Its outstanding location adjacent to the waterfront and proximity to some of the city’s most ambitious new development projects will further enhance its appeal to this demographic in the coming years.” Jorge Duarte, senior managing director and fund manager for HEPP, said: “The creation of rental accommodation in areas of high demand and low supply is a high-conviction investment theme for us. “We believe this ambitious scheme provides a blueprint for how private capital can be deployed to deliver both value for our investors and the high-quality housing supply the UK and Europe so clearly needs.” James Lindridge, development director and chief operating officer for Olympian, said: “Newcastle is a flourishing city with growing tech business centres, and this scheme will help manage the housing supply-demand imbalance in the city by providing high-quality, highly sustainable homes to local residents.” Image from Hines/Olympian Homes