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In a landmark deal for the builder, the venture will see Story Homes deliver around 550 new homes, including affordable housing, over a 10-year+ period.
The proposed scheme includes a range of two to six-bedroom new properties, designed with flexible, open plan living in mind to suit the needs of a variety of customers.
Colin Wood, CEO for Story Homes, said: "We are thrilled to have completed the purchase of this site at Killingworth Moor, which represents a substantial investment from our business and will pave the way for much-needed high quality new homes.
"This site is a very exciting addition to our growing land portfolio, further positioning Story Homes as a leading housebuilder in the North of England. This development is set to shape the housing landscape in the region and we’re incredibly proud to be forging ahead with our expansion across the North East."
North Tyneside Council’s Local Plan for housing growth includes two Strategic Allocations – one of which is Killingworth Moor, the other being Murton Gap, which incorporates Story Homes’ existing Robinson Fields development at Rake Lane.
The adopted Killingworth Moor Masterplan will deliver approximately 2,000 homes, together with education facilities, local services, employment uses, green infrastructure and amenity space.
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This site forms 'Phase 1 North' of the Masterplan and already benefits from hybrid planning consent: comprising full planning permission for 432 homes and outline consent for 118 homes, as well as the associated highways, infrastructure and engineering works, landscaping and open space.
Story Homes will work closely with North Tyneside Council to progress with planning on the first phase of development, located to the south of the site. Subject to securing planning permission, it is anticipated that works on site would commence in summer 2025.
Stuart Morgan, Land Director for Story Homes, said: "Over recent years we have placed a continued focus on acquiring high-profile sites across the North East; to have secured opportunities for residential development at both of the Council’s Strategic Allocations for North Tyneside demonstrates our commitment to building high specification homes in places where people want to live."
Story Homes has purchased the land, approximately 34 hectares in size, from landowner Northumberland Estates. The housebuilder has completed a string of successful land deals with Northumberland Estates in recent years, including sites at Rake Lane and Alnwick.
Barnes said: "We are delighted to have agreed another land deal with Story Homes who are based in the North, further strengthening our partnership, and the deal will allow us to re-invest further into the region, particularly in commercial development and renewables. Good quality housing and employment opportunities that flow from this all contribute to the success of the area.
"It was a pleasure to work with Story Homes on their recent schemes in Alnwick and Rake Lane, and the success of these developments gave us the confidence to do business again with another mutually successful arrangement for our Killingworth Moor site; we are confident they will continue to deliver high quality homes in Newcastle as part of this scheme."
As part of the new scheme, Story Homes will make a significant number of community payments in line with the Section 106 Agreement* requirements, totalling over £2.4m. This includes contributions towards primary education, coastal mitigation, sports and recreation, public transport and travel, benefitting new and existing residents. It is estimated the housebuilder will also pay c. £5.8m in Community Infrastructure Levy (CIL)** as part of the proposed development.
With a development lifecycle of over 10 years, there would be significant benefits for the economy during the construction phase as a result of direct and indirect employment opportunities for local people through the subcontractor and supply chains.
