Avison Young begins search for Forth Yards development partner

Global commercial real estate advisor Avison Young has been appointed by Homes England to advise on securing a long-term development partner to drive forward the transformation of Forth Yards.

Forth Yards is a strategic redevelopment opportunity and Newcastle’s last major brownfield site. It covers 50 acres of land in the city centre and has capacity for around 2,500 homes.

The initial focus will be on Quayside West, a 6.2-hectare parcel of land within the wider Forth Yards regeneration site. Quayside West, with capacity for around 1,100 homes, was brought into public ownership in 2024, after being acquired by Homes England.

Avison Young’s appointment follows the recent announcement that Homes England secured £121.6m of Brownfield, Infrastructure and Land (BIL) funding to support the delivery of Quayside West. The funding package will enable vital remediation, groundworks and infrastructure activity, fixing complex land issues that have long acted as a barrier to investment at the site, which has lain derelict for decades.

One of the most significant regeneration projects in the UK, Forth Yards is set to become a new, sustainable mixed-use neighbourhood, located adjacent to Newcastle Central Station, and presents an opportunity to transform the underdeveloped water frontage area into a new western gateway to the city centre.

A development partner is being sought to deliver a comprehensive, place-based regeneration scheme with a focus on quality of design, sustainability and community. The scheme will comprise mixed tenure residential, commercial and community space, and new public realm to promote active travel.

The procurement process will commence in autumn 2025.

Stuart Howie, Principal and Devolution Delivery Lead at Avison Young, said:
“We are delighted that Homes England has selected Avison Young to advise on the delivery of this critical regional project. It’s a complex regeneration project that we are already very familiar with, having supported Homes England to secure the recently announced £121.6m funding package, and we look forward to helping them secure the right long-term delivery partner.

“Forth Yards is an unrivalled opportunity to transform one of Newcastle’s most strategically located sites into a thriving, sustainable neighbourhood. We are delighted to be working alongside Homes England and its partners to secure a development partner that shares the same vision for creating a destination that seamlessly connects this brand-new community with the wider city and waterfront.”

Duncan Inglis, Director, North – Markets, Partners and Places at Homes England, added:
“The appointment of Avison Young to search for a development partner for Forth Yards is a significant milestone and highlights our commitment to transforming previously undeveloped brownfield sites into thriving communities. Avison Young brings a wealth of experience in procuring development partners for complex regeneration schemes, as well as a deep understanding of Forth Yards and the city.

“With the new funding package and support from our partners – Newcastle City Council, the North East Combined Authority and Network Rail – we’re looking forward to working with Avison Young to find an accomplished development partner with a track record of delivering schemes with placemaking at their heart.”

Gordon Hewling, Regional Managing Director, Newcastle at Avison Young, added:
"We’re incredibly proud to have been appointed to advise on the delivery of another transformational project, which will support the city’s continued growth and regeneration.

“Newcastle’s proactive approach to placemaking and regeneration continues to appeal to market investors and attract capital to the region. We look forward to seeing the high-quality development and placemaking that will follow, delivering a scheme that represents the bold ambition of the North East.”