Empire Property Holdings Investment continues its development business model after acquiring further commercial buildings to develop into 130 apartments. St Peter’s House and Danum House were purchased for circa £1.7m. Empire property Holdings led by their Managing Director Paul Rothwell, will renovate these building further transforming Doncaster town centre.
Danum House is the former Co-operative building in St Sepulchre Gate. This commercial building will be converted into 78 one, two and three-bedroom apartments by summer 2018. St Peter’s House in Princes Street is a slightly smaller development. This will be transformed by into 51 one-bedroom high quality apartments.
These latest acquisitions further add to Empire’s property portfolio. Previous property purchases include Joseph Locke House in Barnsley, acquired for £1.85 million. This is on schedule to being development into residential apartments in 2018.
Thanks to its strategic location and excellent transport links, Doncaster has witnessed an influx of major employers over the past five years – Amazon, Ikea, Tesco, Boeing, McClaren Automotive and NEXT. Large corporations bringing in further employment as people look to move here.
Managing Director Paul Rothwell said: “Danum House is a landmark building in the centre of town and is ideal for converting the upper floors to residential use with commercial units on the ground floor. We expect the apartments to become available from summer 2018.
“In Hull job creation is being driven by City of Culture and renewables. In Pontefract, we converted King Charles House into 62 apartments which we filled in six weeks, with much of the demand driven by recruitment at Ferrybridge power station and Haribo.
Chris Dungworth, investment manager at Business Doncaster, added: “Part of our work around the town centre is to encourage town centre living and the creation of high quality accommodation.
“Empire Property Concepts have received support through our business support programme and we are pleased to see their investment in Doncaster town centre converting old office stock into quality apartments for working professionals.”
Jason Barnsdale, managing director of Barnsdales commercial and residential property specialists which helped to complete the St Peter’s House transaction, said the investment could be a significant step in the regeneration of Doncaster town centre.
Barnsdale said: “We know from the volume of deals and the quality of projects that we’re working on that things are really picking up in Doncaster. But it is taking some time for the benefits to reach the town centre, and that’s why these deals are so important.
“Various partners are working together on ideas to regenerate the town centre, and projects like this can make a big difference. If we have more people living in the centre, then the area will hold greater appeal for retail and leisure investors.”
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