Banks property to reveal plans for high quality residential development at Palmersville

November 15, 2012 | Forest Gate, North Tyneside News

Plans for a new residential development in a popular part of North Tyneside are set to be revealed by a regional developer.                                                               

Banks Property, part of the Banks Group, is looking to put forward plans for 61 two, three and four-bedroom family homes on a 4.5-acre brownfield site on Great Lime Road in Palmersville, adjacent to the existing Forest Gate development.

Durham-based Banks, who were the land developers for the original Forest Gate scheme, is working with north east housebuilder Bellway plc on the development of the site, which would offer a number of different options for both first time buyers and established homeowners, and which would have a 25 per cent allocation of affordable housing.

The project has been developed to help meet an acknowledged need for more family housing across North Tyneside, and would help attract new families to the area, as well as providing options for local young people who want to find their own homes close to where they’d grown up.

Local people will be able to view the plans for the scheme at a public exhibition which will take place between 3pm and 7pm on Monday 26 November at the Forest Hall Young Peoples Club at Palm Court, off Great Lime Road.

Banks’ representatives will be on hand to answer any queries visitors have about the scheme, and to gather feedback from them which will be used as part of the design development process.

Exhibition visitors would also be able to discuss whether any local community and environmental projects with which they’re involved might be eligible to apply for backing from the Banks Community Fund.

Banks has already begun consultations about the scheme with local community representatives, and is looking to submit a planning application to North Tyneside Council before the end of the year.

Michael Shuttleworth, managing director of Banks Property, says: “There is a real need to increase the supply of family homes in North Tyneside, and we are very confident that a high quality development of this type would prove very attractive to homebuyers from across the area, especially given the site’s proximity to the Cobalt Business Park and other areas of concentrated employment.

“Our proposal would provide new options for people wanting to move into or stay in the area, which would in turn provide benefits for local shops and services, as well as creating new revenues for use in the area by the local Council.

“The project would represent a substantial capital investment by Banks in the local area at a time when very few companies have the confidence to undertake anything so substantial, and we hope as many people as possible come along to our exhibition to find out more about what we’re looking to do.”

Anyone who would like any further information about the proposed scheme, but who is unable to attend the 26 November exhibition, should contact the Banks Property community engagement team on 0844 209 1515 (local rate call) or via forestgate@banksgroup.co.uk

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