Gateshead Council has appointed a consortium between PATRIZIA UK Limited and Ask Real Estate Limited to deliver a development on the River Tyne, at Gateshead Quays.
Selected following an OJEU tender process, the consortium is devising an ambitious development plan for a mixed-use scheme on a ten-acre site in the heart of this area of Gateshead’s thriving river front. The planned development will sit directly opposite the Gateshead Millennium Bridge and between Gateshead’s most iconic buildings, Sage Gateshead and the BALTIC Centre for Contemporary Art.
Development of the site will create a vibrant new area on the waterfront between Sage Gateshead and BALTIC and will also provide improved connections between the Quays and Gateshead Town Centre and the wider area.
Dan Williams, Head of Development at PATRIZIA UK, commented: “Gateshead Quays is a great opportunity to work with Gateshead Council to create an exemplar development, one that fits ideally in our strategy of investing in significant mixed-use schemes in important regional centres.”
Leon Guyett, Development Director at Ask Real Estate said: “We are really excited to be partnering with Gateshead Council on delivering the first phase of a flexible masterplan that will have a hugely positive impact on this strategic site, creating another appealing destination for the area.”
Councillor Mick Henry, Leader of Gateshead Council, added: “We are delighted to be working in collaboration with Ask and PATRIZIA to develop a scheme that meets our vision and objectives for Gateshead Quays. It’s such an important site in such an iconic setting and we’re excited to be working as part of a team to produce a scheme worthy of this significant location.”
PATRIZIA UK and Ask Real Estate have experience of working together and are currently delivering a large mixed use scheme in central Manchester. PATRIZIA’s UK business includes an experienced team of property professionals who manage £1.5bn of assets in the UK. Ask Real Estate is an experienced property developer with a strong track record of delivering mixed-use schemes across the North West.