Construction firm Tolent has been awarded a contract to build a 26-storey residential tower in Newcastle, UK.
Located in Rutherford Street, the development will feature 96 one-bedroom and 66 two-bedroom apartments.
Built exclusively for the residential rental market, the new tower is touted to be the tallest building in Newcastle. The development received planning consent earlier this year.
The project is being developed by property specialist All Saints Living, which also has other similar schemes planned for Warrington and Milton Keynes.
Tolent will regenerate a former derelict warehouse site and also incorporate significant improvements to public areas surrounding the building.
All Saints Living director Keith McDougall said: “We are extremely excited to be playing such a key role in this landmark development. It heralds a significant shift in our business direction, with an increased emphasis on building for the private rented sector.
“Around one sixth of people in the UK live in privately rented homes and that is expected to grow significantly in the coming years. With this in mind, as well as this venture, we are developing similar initiatives in Warrington and Milton Keynes.”
Tolent regional director David Thompson said: “We have a great history in the city and are extremely excited to be involved in the project at Rutherford Street. We are well-versed in delivering construction projects in challenging, urban areas and will ensure all works are undertaken with minimal disruption to the surrounding area.”