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£100 million quayside regeneration could trigger fresh wave of Newcastle property investment
A proposed £100 million regeneration project in Newcastle is exciting property investment companies as a result of its potential to drive up property prices in the city. The Quayside Wheel Terminus regeneration project would see the tallest observation wheel in Europe built in the heart of Newcastle.
The ‘Giants on the Quayside’ development would feature a 460-ft high Ferris wheel, a family entertainment centre with trampolines, climbing walls, skywalk and café, and a sports complex complete with tennis courts, covered five-a-side pitches and a state-of-the-art virtual golf club. The Wheel Terminus building would contain some 86,000 sq ft of commercial space.
“Newcastle’s reputation as one of the most dynamic and intriguing cities in the UK has seen it attract considerable investment over the past few years. Now, the proposed quayside regeneration could – subject to planning – see the city leading Europe in terms of its observation wheel and associated facilities. This is excellent news for the city’s residents, as well as creating some exciting possibilities in terms of property investment.”
Work has begun on Newcastle’s tallest skyscraper!
It has been quite a year for Newcastle so far as tall buildings are concerned. Work began recently on the city’s tallest skyscraper, Hadrian’s Tower, which will provide 162 stylish homes, along with a range of innovative social spaces. Investors have shown keen interest in the apartments, which come with a 7% NET yield assurance.
As well as healthy yields, Newcastle provides excellent value for money when it comes to property prices. In fact, the North East of England is the cheapest region of England in which to buy a home. As at October 2018, the average home there cost just £128,484, compared to a UK average of £231,095, according to the government’s UK House Price Index.
“Newcastle already offers exceptional value for money so far as its property market is con-cerned. With the quayside regeneration project set to create as many as 800 jobs, approval of the scheme could well generate yet another wave of interest in Newcastle as a buy to let property UK destination.”
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