Construction work is progressing well on a new ultramodern, multimillion pound Build to Rent development on Forth Banks in Newcastle, which is the first of its kind in the region.
More than £30m has been invested in the development called The Forge, which will bring the fast emerging concept to the North East, creating 283 purpose-built rental flats, available furnished or unfurnished, aimed primarily at professionals seeking flexible lease terms.
Spanning over 200,000 sq ft at the heart of the Stephenson Quarter, The Forge is being delivered by Moorfield Group and will feature a selection of one-, two- and three-bedroom flats, professionally managed by Allsop.
It will be set across three apartment blocks; the first of which is due to complete and be ready to move into this summer, followed by blocks two and three later this year.
Ultrafast fibre optic broadband will be available throughout the property and residents are able to take advantage of facilities such as a fully equipped gym, studio space for fitness classes, a club lounge with workspaces and cycle storage racks.
Notable added lifestyle perks include a 24-hour concierge service, security and a social programme as well as pet friendly apartments available.
Uniquely, the whole letting process can be completed online through Virtual Agency, a portal facilitating virtual tours and allowing applicants to book viewings, reserve a property, make payments and sign and complete all documentation.
Helen Douglas-Teggart, letting manager at The Forge, said: “The Forge will introduce a professionally managed, purpose designed, top quality rental offering to Newcastle. We expect it to appeal to a range of residents from young professionals and couples to graduates and families with young children, as it’s flexible and offers a great lifestyle with hassle free living.
“As part of our quayside living model, The Forge will establish a community and embrace Newcastle’s business scene, working with all industries from hospitality to retail to deliver pop-up events exclusive to residents.
“We’re excited to provide the perfect base for city dwellers to reap the benefits of long-term, convenient renting.”