We have accelerated our growth plans in the North East with another forward fund deal

We've accelerated the growth of our portfolio in the North East with the acquisition of a 40-unit scheme from New Tyne West Development Company (NTWDC).      

NTWDC is a partnership between Newcastle City Council and Keepmoat, which has already delivered over 550 new homes as part of a masterplan to eventually create around 1,800 homes and new neighbourhood and medical centres at The Rise, Scotswood, Newcastle.
 

The forward-funded deal will see the delivery of 40 units, comprising 38 single-family homes and two apartments, at The Rise, in Newcastle’s suburbs.

Following completion of the development in spring 2025, Placefirst will then commence letting, operating and maintaining the properties, adding to its growing portfolio of professionally managed rental homes in the North East.

Just 10 minutes from Newcastle city centre, and with the Metrocentre just over the river, residents at The Rise will benefit from the great connectivity to the wider city.

This latest deal marks the growth of Placefirst’s award-winning portfolio of neighbourhoods in the North East, as completion will see The Rise join Scholars View in Hetton-le-Hole, The Green in Hartlepool and The Oaks in Esh Winning, Durham.

Placefirst’s presence in the region is also set to increase further, as it launches a public consultation for the Farringdon Row scheme, developed in partnership with Sunderland City Council, as part of the second phase of the city’s Riverside Masterplan.

David Mawson, CEO of Placefirst, said: “Whether it's developing schemes from scratch, agreeing forward funding deals, or working in partnership with local housebuilders and local authorities, accelerating the growth of our portfolio is key to meeting our commitment to increasing the number of high-quality rental options for communities in the North East and beyond.

“However, simply building homes with no regard to design or purpose will do little to solve the housing crisis – the country is facing a shortage of housing quality as well as capacity. As we continue to expand our portfolio with this latest deal with Keepmoat and New Tyne West Development Company, and a long-term pipeline of developments, Placefirst is well-positioned to lead the North East’s response to increased housing demand.”

Lee McGray, Director at New Tyne West Development Company, added: “We are delighted to be collaborating with Placefirst, to be offering housing solutions which address the demand and need for affordable homes in the locality.

“Partnerships like this, help develop the success of the masterplan at The Rise. Its key objective remains an ongoing commitment to the provision of high-quality housing, within a community where people choose to live and work.”