Key Facts
Office conversion to 55 quality student studios plus 1 commercial office to the ground floor
- This centrally located 1700sqm building was used by the Department of Works and Pensions as a job centre location who hav 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 – £5m
- Development profit - £1,500,000