Top 10 investable projects: Health Innovation Neighbourhood, Newcastle

Project overview

The Health Innovation Neighbourhood is a large development on the site of the old General Hospital on Newcastle’s Westgate Road.

Its vision is to be a neighbourhood where the housing, environment, infrastructure, research and learning will drive and inform healthier and sustainable living.

This will be achieved by cross-sectoral collaboration on research, housing, health, and the environment to create a “living laboratory”. Work will explore and address the challenges of global populations that are getting older, sicker, poorer, and less productive.

The opportunity

Capital investment is sought from an institutional investment fund to cover the whole or large parts of the 29-acre site. 

The financials

The 51-acre site has a gross development value of £500m.

Project sponsor

The Health Innovation Neighbourhood is being led by Newcastle University and has the full support of Newcastle City Council. 

Significance

This is an exemplar of inclusive economic growth, providing good employment and skills for residents in the west of the city and promoting intergenerational living with welcoming, fun, and fit-for-purpose spaces.

The pitch

The project builds on the experience of delivering Newcastle Helix, which has become one of Europe’s most important innovation districts, and follows a proven model for urban regeneration projects – leveraging research and development capabilities to build commercial space that is attractive to high-quality occupiers.