Q3 Newsletter

We have had a dynamic quarter here at The High Street Group, you can view our video below:

If you are someone who enjoys a good read, you can view our print brochure by clicking here.


Invesco Forward Fund Holloway Head for £98 Million

Share Article:

Invesco Forward Fund Holloway Head for £98 Million

Global real estate investment manager, Invesco, has completed the legal documents to forward fund a £98 million investment with us to deliver 484 Build to Rent units in the centre of Birmingham.

The project, Holloway Head, is being developed in partnership with our Residential arm, with the construction of the first phase (a 17 storey building) expected to begin later this year.

Located between Blucher Street, Gough Street, and Ellis Street, Holloway Head currently comprises a car park and the Girl Guides headquarters at Trefoil House. The development will benefit from close proximity to Birmingham’s Mailbox, Arena Central, and Concord House, which is home to the city’s most expensive apartment, as well as key transport links close to the planned HS2 terminal at Curzon Street.

This development joins our significant portfolio of ongoing developments in Birmingham; including Kent Street Baths, a £133 million development of 580 apartments in two phases, and Westminster Works – a £50 million, 8 storey development of 220 units.

On Holloway Head and Invesco

John German, Managing Director of Residential Investments at Invesco Real Estate stated: ‘Adding Birmingham to our growing portfolio is a great next step [for Invesco] due to its positive market outlook, growing reputation as a business destination and positive rental growth outlook. […] As with all of our development projects, we’re excited about the opportunity to provide a ‘best in market’ residential product for today’s rental market with units designed and built for purpose with our partner, High Street Residential.’

Our Chairman, Gary Forrest added ‘Birmingham is undergoing significant regeneration and represents a great place to invest. Local demand for professionally managed, purpose built rental accommodation is rising quickly. I am delighted that Invesco Real Estate as agreed to partner with us to develop Holloway Head. Like all our developments, it offers an extremely attractive opportunity for investors to take advantage of a non-volatile, high quality asset offering attractive long term returns.’

Rental demand in Birmingham

With house prices surging due to a chronic lack of housing, demand for rented city centre living among young professionals has been driven up in the last few years. However, there are just 5,579 rental units committed to Birmingham, versus the 74,767 in London and 23,320 in Manchester.

This, combined with the city being the youngest in Europe, and a hub for over 12,000 start-ups has led to the Group and High Street Residential paying particular attention to Birmingham.

To find out more about our developments in Birmingham or across the UK, visit our Developments website.


Hadrian's Tower Timelapse - August 2019

Share Article:

Hadrian's Tower Timelapse - August 2019

A time lapse of High Street Residential’s Hadrian’s Tower on Rutherford Street, Newcastle upon Tyne.


High Street Hospitality invests £3.5m in sixth hotel

Share Article:

High Street Hospitality invests £3.5m in sixth hotel

Our rapidly expanding hospitality business have begun work on the construction of its sixth hotel.

High Street Hospitality are investing £3.5m in the 1.5 acre plot, which is part of the Durham Gate retail project at Thinford in County Durham.

High Street Developments will aid in the construction of the 40 bedroomed hotel, with high quality restaurant, al fresco dining and a children’s play area, which it is hoped will open for business next summer.

It will become the fourth in the Hotel 52 chain – the others being in Stanley, Washington and Whitley Bay.

See more by clicking here.


New Collingwood Street Hotel wins approval

Share Article:

New Collingwood Street Hotel wins approval

We’re delighted to announce that our plans for the Metropolitan Hotel has won the backing of the local Councillors in Newcastle.

Our £2m venue will also boast a brasserie, rooftop terrace and base entertainment studios.

The Brasserie will be called the Boardwalk which will be a 1920s themed restaurant that will which will be open from 6.30 am, with room for 80 diners, serving breakfast, brunch, lunch, high tea and dinner.

The top floor will become The Terrace, an elegant space with a half retractable roof which will be heated in winter,turning it into a year-round destination, potentially for use by members only during the evenings, with entrance managed via a mobile phone app.

You can read more about this in the Chronicle by clicking here.


Plans submitted for Brett Wharf!

Share Article:

Plans submitted for Brett Wharf!

Plans have been submitted outlining the proposed development of Brett Wharf on the site of the former oil depot on the banks of the river Tyne.

The plans will see the former site of Brett Oils Depot into an apartment building consisting of 264 separate residences.

The site in Gateshead will be turned into a range of one to three bedroom apartments, duplexes and penthouses.

You can find the latest news article about this project here.


Lenzie Sucess

Share Article:

Lenzie Success

We are delighted to announce that we had a very successful event for our Lenzie development over the weekend. 

A staggering 9 properties were purchased on the spot, with the value coming in at over 3 million pounds. A huge thank you to everyone involved!


Taste the high life at the toon’s tallest tower

Share Article:

Taste the high life at the toon’s tallest tower

We welcome local folk to a taste of the high life in Newcastle’s tallest building.

With around two thirds of the 162 apartments in the 27 storey Hadrian’s Tower pre-sold to institutional investors, we are staging an event on 14th and 15th September at St. James’ Park, in Newcastle, for those closer to home that may be interested in buying.

It will not only showcase the one and two bedroomed homes available but also the incredible three bedroomed penthouses and amazing views the 83 metre high landmark building has to offer.

With plans for a sky lounge and smart technology, supported by Newcastle’s fastest connectivity, the tower looks certain to be a sought after base for young professionals working in area’s high tech, health and science businesses.

Premium champagne house Laurent Perrier has also signed up as our partner in the sky lounge project and is working up designs with us for the facility, which will be known as Three 60.

Gary Forrest, our Chairman said: “For investors, the fact that the properties offer a guaranteed seven per cent yield is an attractive prospect. For those wanting to live in a vibrant, unique location, with simply stunning views, Hadrian’s Tower provides high rise living and world class lifestyle.”

Constructed by Tolent, the tower is designed for a 21st Century lifestyle.  This includes ultrafast full fibre optic cabling that will deliver connection speeds of up to 1Gbps (Gigabits per second) – around 21 times faster than the current Newcastle average and 25 times faster than the UK average*.

This will also support smart security and energy management within the building, delivering lower costs and lower carbon footprints.  Also being considered are smart apps that will allow residents to hire cars or cleaning services at the swipe of a screen.


Welcome to the Group, First Penthouse

Share Article:

Welcome to the Group, First Penthouse

A penthouse rooftop extension in Knightsbridge.

As part of a drive to break into the development of rooftop homes, we has acquired a majority stake a business which specialises in creating London penthouses.

This multi million pound deal delivers instant, award winning* expertise to the rapidly expanding, Newcastle based property specialist.

First Penthouse, established in 1994 and based in Knightsbridge, has recently completed several prestigious rooftop extensions, creating luxury homes on top of existing buildings in areas such as Chelsea, Knightsbridge and St. John’s Wood.

It is currently working to secure and deliver a further nine projects across the capital, with a gross development value (GDV) of over £120 million.

The Market for Rooftop Developments

Analysis of the housing market in London suggests over 50,000 new homes are needed annually to meet demand.  A study by Interdisciplinary Design Consultancy HTA LLP identified that in the Borough of Camden alone, there are 475 potential rooftop sites, which could deliver 2,485 homes.

Across Greater London it identified over 14 million square feet of developable roof space, which could deliver almost 180,000 properties.  A Knight Frank report suggest that there is over £50 billion worth of rooftop development potential in the capital.

In the words of our Chairman Gary Forrest: “A couple of years ago, the government welcomed a proposal to help address the housing shortage in London through the development of modular homes on top of existing buildings.

“We believe there is a huge potential in this innovative idea and have researched potential sites, as well as the associated considerations of planning, design, sustainability and construction.

“What we lacked was the expertise to deliver projects and that is why we have acquired First Penthouse.  The deal adds people with practical and successful experience of rooftop development to our team, which will, I am sure, significantly accelerate our involvement in this market place.”


Purple Peacock to ruffle restaurant feathers: Newcastle Launch

Share Article:

Purple Peacock to ruffle restaurant feathers: Newcastle Launch

Our very own Marketing Director, Sonali Craddock, has drawn on all her experience of launching a high end restaurant in India to come up with a concept that should ruffle a few feathers on the North East hospitality scene.

Having lived and worked on the sub continent for the best part of a decade, she has adapted the vibrant designs, used to such great effect there, to influence look and feel of the new Purple Peacock restaurant, which is scheduled to open its doors in Newcastle in October.

It will replace the Fat Buddha – under 55° North – as we take on the lease for this outlet and the adjacent Antler restaurant, which will evolve to deliver a sports bar theme. The move is

The Newcastle Purple Peacock Experience

Sonali, who heads up our marketing team lived in India with her parents as a child and later returned to work in Delhi.

In her own words the restaurant has a great inside vibe:  “The décor is unique, extravagant and bold, with a royal jewel colour palate and themed accessories to complement the restaurants colourful name.  There will be a giant peacock, lots of feathers and bird cage features.

We believe that visitors to the restaurant will be compelled to take photos and share these across social media.  The food will be contemporary with an element of Asian / classic fusion and we plan a strong emphasis on vegan and vegetarian cuisine.”

The Yarm Peacock

Earlier this year, we also opened a Purple Peacock at the Parkmore Hotel in Eaglescliffe, which it bought last year.  Since then a £1 million plus refurbishment has been underway in a drive to make it one of the leading dining, wedding and leisure destinations in the region.

 

The hotel – which was originally built in 1896 – will enjoy improved function and spa facilities, the upgrade of all 55 bedrooms to a very high, boutique standard and the establishment of a new bar, as well as the restaurant.