4th May 2021
This development on behalf of Newcastle City Council comprised 20 units in a modern apartment building and 16 single-storey apartments which were designed for end-users with early on-set dementia and cognitive needs.
Hodgson House is one of 13 sites completed as part of a larger supported living two-phased scheme on behalf of Newcastle City Council to deliver bungalows, apartments and Tyneside flats for the over 55s.
The development was delivered under an innovative and unique financial model which means the client had no capital outlay during the construction period and instead, construction was funded via a third party, known as the Annuity Lease Back Model (ALBM).
Upon completion, the client pay an annual rental from monies received from tenants.
Tolent was able to ensure the annual rental was below the threshold, creating a surplus which was used to maintain and manage the properties.
The sustainability of the development was strengthened through our sensitive approach to lifecycle costings, which has focused on adopting a high-quality specification using leading industry manufacturers with extended and comprehensive warranties and selecting materials which were inherently low maintenance in order to minimise life-cycle costs.
The independent living apartments achieved BREEAM ‘Very Good’ standard and have The Built for Life quality mark, which only 1 in 4 housing developments in the UK achieve. The development benefited from several renewable technologies including PV panels and electric car charging points.
The design of the building comprised a graduated design from four-storeys to one-storey in a sweeping L-shaped design arranged around a protected courtyard which made use of the sloping landscape.
Communal facilities including spacious lounge, 24 hour reception and staff facilities, mobility buggy store and charging room were housed within the main apartment building and externally the development included landscaped grounds and gardens with seating area to the courtyard.
Tolent is currently on site delivering the next phase, ALBM 2 (£27m), with Newcastle City Council which brings the total number of units delivered to 347 across eight sites under the same Annuity Leaseback Model.