Network Rail property company to unlock land for 40,000 homes

The Office for Budget Responsibility said Labour’s planning reforms could provide a £15.1bn boost to the economy over the next 10 years and deliver 1.3m homes by the end of the parliament, according to Chancellor Rachel Reeves.

The developer’s plans are for the demolition of buildings and construction of four mixed-use blocks comprising 84 apartments in the Byker ward of Newcastle. 

New Tyne West Development’s plans for Phase 3 of the area are recommended for approval on Friday, in the latest stage of the 20-year old regeneration masterplan. 

At its meeting on Friday, Newcastle City Council is set to approve plans for an urgent treatment centre on the grounds of the hospital. 

Following commitments of £500m in October and £350m in February, Chancellor Rachel Reeves said an additional £2bn slug would enable a further 18,000 homes across the country.

The college and the South Shields Marine School are being moved into the town centre, with Castle appointed to build the 160,000 sq ft building in a move that will increase footfall to the coastal town. 

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The developer is looking to construct more than 270.000 sq ft of grade A warehousing throughout 2025/26, and has set aside £12m to refurbish several units across its existing business parks. 

The council and the BNG provider are creating a local habitat bank to spur housing growth in the region, providing developers with options to meet environmental planning requirements.