Hines’ first step in Newcastle backs big multi-family project

Developer and investor Hines is to forward fund a 519-unit residential development in UK city Newcastle upon Tyne in partnership with developer Olympian Homes.

Hines is making the investment on behalf of the Hines European Property Partners (HEPP) fund and, once completed the project, Pottery Lane, will be the city’s largest multifamily development.

Plans propose an all-electric scheme powered by geothermal heat pumps and on-site solar PV making it net-zero enabled from the outset.

The site, which is Hines’s first venture in the city, lies within Newcastle’s Forth Yards Regeneration Area, which is a priority zone for new investment.

The 325,000 sq ft (30,193 sq m) Pottery Lane scheme will be delivered in two phases by development partner Olympian Homes. The first 11-storey block, comprising 292 private units, will be completed in Q4 2026, with an additional six-storey, 227-home asset due to be handed over in 2027. In addition to the mix of one and two-bed apartments for rent, the scheme will provide c.10,000 sq ft of best-in-class amenity space including a gym, co-working facilities, two roof terraces and cinema room.

“The rapid growth of Newcastle’s tech and innovation sectors, paired with its rising population and the strong reputation of its higher education institutions, is driving increased demand for high-quality rental accommodation in the city centre, particularly among young professionals,” said Ross Blair, senior managing director and head of Hines UK.