Housebuilder set for £120m boost to support regeneration of West Newcastle

A Newcastle housebuilder is set for a multi-million pound investment to support the regeneration of the west of the city.

Keepmoat Homes has bought out Barratt Homes’ interest in the New Tyne West Development Company (NTWDC) – the joint venture behind the Scotswood development The Rise.

The deal paves the way for the regeneration specialist which, since 2016 has built almost 800 homes across eight sites in the city, to support a further £120m investment by NTWDC in the project over the next five years.

Ian Hoad, divisional chairman with Keepmoat Homes, commented: “Our confidence that this project would deliver positive change in the west of Newcastle has proved well founded and we had no hesitation in extending our commitment to continue the drive for social and economic regeneration here.

“Along with ventures in Glasgow, Edinburgh, Sheffield and Northfleet on the River Thames, The Rise is now one of our key flagship projects, delivering quality, affordable new homes and improving opportunities for the new and surrounding communities.”

Lee McGray, NTWDC director, explained: “We are delighted that Keepmoat Homes has committed to continue its investment in The Rise, just as phase two of the development is beginning to sell, with new show homes open for safe viewings and planning consent anticipated for phase three.

“Of course, as well as the much needed homes, Keepmoat brings an excellent track record of community support and involvement which have been key factors in the success of the project.”

Newcastle City Council’s cabinet member for employment and culture, Cllr Ged Bell, added: “I would like to place on record my thanks to Barratt for playing such a critical part in the birth of The Rise and the West End.

“Keepmoat is a significant company on the national housing scene and even more so here in Newcastle, so it’s exciting they will increase their commitment to building more homes and all the social benefits that brings with it.

“Not only is The Rise synonymous with the redevelopment of this once proud part of Newcastle but it’s creating apprenticeships and jobs - feeding the local economy and giving opportunities to residents at a time when they have never been needed more as we emerge from a pandemic.”