Stripe Property Group has announced the next step of its expansion plans, with the acquisition and opening of its Quayside base of operations to bring a wealth of new employment opportunities to an area of Newcastle.

Stripe Property Group specialises in housebuilding with a focus on residential and student accommodation and the firm is currently developing a £13m scheme, Quayside West Studios, located on Skinnerburn Road. It will comprise a mix of 118 luxury studio and one-bedroom apartments.

The new development will be located just a short walk from both of the city’s universities, as well as benefiting from public transport links and lying within close proximity to a range of bars, restaurants and other desirable amenities.

James Forrester, Managing Director of Stripe Property Group, said: “While we’ve always played a prominent role in the North East new-build sector, we’re extremely proud and excited to further this influence by opening our new site within the heart of what’s arguably the most exciting regeneration project in the city’s history.

“Newcastle is undergoing a great deal of positive change at present and the Quayside West redevelopment is probably the most significant sign of where the city is heading. Part of this masterplan is attracting young people to come and live, work and study within the city, while also bringing a boost to the local economy and providing further employment opportunities.

“We’re proud to be leading the charge on both fronts, providing jobs to the local community while delivering high quality student accommodation and we believe that this is just the start of things to come in terms of repositioning Newcastle as the powerhouse of the North East for both businesses and leisure.”

Quayside West Studios is the latest in a string of regeneration projects benefiting the waterfront area, with the council-led regeneration of the Stephenson Quarter entering its second phase, having already delivered new hotels, office space, shopping venues and more, bringing 1,000 new jobs with it.  

Stephen Patterson, Chief Executive of NE1 Ltd, said: “Exciting times lie ahead for Newcastle’s Quayside and Stripe Property Group’s redevelopment of the Skinnerburn Road site will make a valuable contribution to the further development of this historic area of the city. The new Quayside West development illustrates the investor confidence in Newcastle and reflects wider investment in the area, with over £850m earmarked for investment in the Quayside over the next five to ten years.”

The area is benefitting from a substantial level of private investment with the Quayside West regeneration project due to transform 15-acres of former industrial land.