Summary:
- The Building Safety Regulator approved Unite Students and Newcastle University’s £274m, 2,000-bed Castle Leazes redevelopment, replacing the former 1,250-bed 1960s accommodation and initiating groundworks and funding formalisation.
- Unite Students will hold a 51% stake as developer, asset manager, and operator, while Newcastle University retains 49% ownership and contributes the site on a 150-year lease; the project’s first phase of 788 beds targets completion for the 2028/29 academic year.
- The scheme aims to enhance student living with modern townhouse-style clusters and increased communal spaces, supported by a multi-year nominations agreement for 1,600 beds, addressing local housing shortages and delivering economic benefits to Newcastle.
Original article:
https://www.placenortheast.co.uk/gateway-2-approval-sees-partners-finalise-castle-leazes-jv/
