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John Street, Sunderland, SR1 1QT

john street external cgi july 2024
John Street, Sunderland.
John Street, Sunderland, Internal
John Street, Sunderland, Internal
John Street, Sunderland 2.
John Street, Sunderland, Internal
John Street, Sunderland, Internal
John Street, Sunderland, Internal
John Street, Sunderland, Internal
john street external cgi july 2024
John Street, Sunderland.
John Street, Sunderland, Internal
John Street, Sunderland, Internal
John Street, Sunderland 2.
John Street, Sunderland, Internal
John Street, Sunderland, Internal
John Street, Sunderland, Internal
John Street, Sunderland, Internal

Key Facts

Office conversion to 85 quality student studios plus 1 commercial office to the ground floor (Ashbrookes Estate Agency Office)

  • This centrally located 1700sqm building was used by the Department of Works and Pensions as a job centre location who have now relocated.
  • This conversion can be done under the permitted development rights for the building without the need for planning approval.
  • Sunderland University is high in popularity and has recently opened a new medical faculty making it an attractive choice for high acheiving students from both home and abrorad.
  • Student accommodation in Sunderland is in short supply and there are already local sudent developments on John Street which are now full and oversubscribed.
  • This development is located equdistance from both university campsites so it will appeal to all students.
  • Timeframe - 18 months
  • Purchase price – £650,000 including VAT
  • Development cost – £2,300,000
  • Total development cost - £2,950,000
  • GDV – £7.5m
  • Development profit - £1,500,000