Member Article

Preferred bidder named to redevelop Jesmond Dene Nurseries site

PegasusLife has been named as the preferred bidder to deliver a new housing development on the former Jesmond Dene Nurseries site in Newcastle.

Subject to contract, the retirement and later living developer is aiming to deliver a mix of 91 later living apartments and, with joint venture partners, 18 executive family homes.

Early plans also include restoring and developing the historic police stables at the site, which will provide 30 additional hotel bedrooms and a spa facility for Jesmond Dene House Hotel.

Ian Trinder, PegasusLife’s CFO, commented: “Having grown up in Jesmond, I have a very personal connection with this location.

“I am really pleased that we are a step closer to bringing PegasusLife’s vision - to deliver the very best in retirement living - to Newcastle. Not only is Jesmond a sought after locality, this site in particular is one of great local prestige.

“The sale of this site - which has sat empty and unused for three years - is going to inject much needed funds back into the council.”

Cllr Ged Bell, Cabinet Member for Inclusive Growth at Newcastle City Council, added: “This prime development site, in the heart of Jesmond Vale, offers a unique opportunity to provide a range of housing choices to meet the needs of our residents, and we are delighted to be working with PegasusLife on this innovative scheme.

“Our aim is to provide the highest possible standard of living for all our residents, and these proposals from PegasusLife will offer a new and modern approach to later living.

“The sale of the site will help us invest in Newcastle’s future, and deliver on our commitment to create more balanced communities and deliver inclusive growth that everyone can benefit from.”

Howard Phillips, CEO, PegasusLife added: “We are thrilled to be picked as preferred bidders for this project.

“We look forward to working with the local authority, and other local businesses, to help deliver high quality housing in Jesmond.”

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