Property Development Division

Introduction

With a £30m development portfolio, Adderstone's Property Development Division lies at the heart of the Group's success.

From its roots as the original mainstay of the business, Adderstone Property Development now has an impressive portfolio of residential, commercial and mixed-use developments throughout the North East, especially Newcastle upon Tyne, with many more exciting projects in the pipeline.

In particular, Adderstone has specialised in residential developments on brownfield sites in Newcastle city centre: converting and modernising existing housing, offices or buildings such as old hotels and undertaking new build schemes on some of the city's former, run down manufacturing and warehouse sites.

Developments have ranged from the small scale – such as the conversion of Victorian terraced housing in Gosforth into modern apartments and a small mews office – to the larger scale such as the West Quay Business Park in Sunderland, the riverside development of the former Austin and Pickersgill ship yard where a 100,000 square foot river-front office park is now underway. This latter development is also championing Adderstone's move into commercial property development.

Many of Adderstone's properties have been sold on completion – some to its own investor clients through its Trading Division – but the company has also retained a significant proportion of its portfolio as investments.


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