BUCCLEUCH Property has sold some of the former Tyne Tees Television site in Newcastle, after planning permission for student housing was granted.
U-Student Group has paid an undisclosed sum and plans to spend about £16 million building 386 student bedrooms. Building work is scheduled to begin early next year.
In more than four decades at the site, Tyne Tees produced diverse programmes such as children's favourite Supergran and music show The Tube.
Edinburgh-based Buccleuch retains ownership of the part of the land slated for a 139-bedroom hotel and its partner, Northern Developments (Cumbria), has a shortlist of parties interested in developing the project. There is also outline planning consent for 30 residential apartments.
Sandy Smith, development director for Buccleuch Property, said: "The former Tyne Tees Television site is an extremely attractive location and indeed we were approached by a number of developers looking to work with us on this scheme.
"Northern Developments was the first developer we felt could really deliver on the site and we are enjoying a successful working relationship."
Martyn Boak, managing director of Northern Developments and U-Student, said: "This has been a lengthy process through very difficult economic times
"I am extremely pleased with the way we've worked with Buccleuch and hope this is the start of a longer term relationship."
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