Matthew Neville

Local developer to create "wealth of new employment opportunities" via £13m Quayside regeneration project

Newcastle based property developer Stripe Property Group, has announced the next step in the company’s ambitious expansion plans, with the acquisition and opening of its Quayside base of operations.

This has been done in order to further establish its presence and bring a “wealth of new employment opportunities” to an area of Newcastle which is “poised for huge growth”.

Launched in 2017, Stripe Property Group specialises in housebuilding with a focus on residential and student accommodation across the North East, having more recently expanded down to the Midlands.

The company is headed by Newcastle-born managing director James Forrester, who has over 20 years of experience within the industry across the UK and Europe. The firm is currently developing a £13m scheme, Quayside West Studios, located on Skinnerburn Road.

Stripe Property Group’s Quayside West Studios will comprise 118 luxury studio and one-bedroom apartments offering an ideal opportunity to invest within the heart of Newcastle. As part of their commitment to the regeneration of the area, Stripe has also acquired and opened its new office adjacent to the site on Forth Banks.

Quayside West Studios is the latest in a string of regeneration projects benefiting the waterfront area, with the council-led regeneration of the Stephenson Quarter entering its second phase, having already delivered new hotels, office space, shopping venues and more, bringing 1,000 new jobs with it.

The area is also benefitting from a substantial level of private investment with the Quayside West regeneration project due to transform 15-acres of former industrial land.

Stripe Property Group is bolstering this private investment further and expects to appoint its main contractor in as little as 12 weeks, before breaking ground and opening an additional sales office to support with the sale of its Quayside West Studio units.

James Forrester, managing director of Stripe Property Group, commented: “While we’ve always played a prominent role in the North East new-build sector, we’re extremely proud and excited to further this influence by opening our new site within the heart of what’s arguably the most exciting regeneration project in the city’s history.

“Newcastle is undergoing a great deal of positive change at present and the Quayside West redevelopment is probably the most significant sign of where the city is heading.

“Part of this masterplan is attracting young people to come and live, work and study within the city, while also bringing a boost to the local economy and providing further employment opportunities.”

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