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Hines has agreed to forward fund a 519-unit net zero residential scheme in Newcastle, UK.

The Houston-based developer and investor’s Hines European Property Partners (HEPP) fund will fund the multifamily residential project, to be delivered by UK developer Olympian Homes.

Hines said 325,000 sq ft scheme will be all-electric, powered by geothermal heat pumps and on-site solar PV making it net-zero enabled from day one.

The project, named Pottery Lane, will be delivered in two phases: an 11-storey block, comprising 292 units, will be completed in Q4 2026 and a second six-storey, 227-home block is due for delivery in 2027. 

Alongside a mix of one and two-bed rental apartments, the scheme will provide around 10,000 sq ft of amenity space including a gym, co-working facilities, two roof terraces and a cinema room.

The scheme is located in the Newcastle’s Forth Yards Regeneration Area and is close to  The Helix, a £350 million tech and life science quarter and Pilgrim Place, a new 400,000 sq ft office-led mixed use project.

Jorge Duarte, senior managing director and fund manager for HEPP, said: “The creation of rental accommodation in areas of high demand and low supply is a high-conviction investment theme for us.

“We believe this ambitious scheme provides a blueprint for how private capital can be deployed to deliver both value for our investors and the high-quality housing supply the UK and Europe so clearly needs.”