I actually lived in those flats for a few months after moving away from a crazy landlord in Gateshead in the early 80's. It was called St Cuthbert's Village and was partly decent put rough too and when I moved from there it was eventually flattened.
The poster board I do remember but the site to the right of the picture is where the Redheugh Bridge was built and opened on 18th May 1983 by Princess Diana Spencer and I was there on my birthday to see her. That board, not the poster obviously, was still there for some time afterward. Not now of course.
The bridge was built for the princely sum of £15,350,000.
The Village is long gone either side of the bridge in this picture which was taken in March 2008.
I don't remember seeing too many posters with Hornby advertising but a mere couple. Not known where though but this is a decent capture and I have a pic of a double header of 37's I think there are at the very same spot almost. Might dig it out if I remember. All I can remember is that I was walking across the bridge at the time toward Gateshead and had my camera in hand with film loaded... waiting... for anything really.