Knight Frank - General Development - Durham
Date: 10 Apr 2008
Two Edwardian architectural gems in Durham which are being converted into luxury apartments, will see the first new homes go on the market this summer.
National residential developer Crosby Lend Lease is to transform Neville House and Sheraton House, which were formerly owned by New College, Durham. Sheraton House, which will be the first of these gems to be transformed, contained the library of New College, Durham and Neville House contained classrooms, dormitories and office space.
The premises have full planning consent for 114 homes and will comprise a mixture of unique conversion and stunning new build apartments on the site along with associated car parking. There will be a mix of one, two and three-bedroom apartments, with anticipated prices ranging from under £170,000 to over £575,000.
Kevin Thubron of property consultancy Knight Frank in Newcastle commented: "It is very rare to see two such spectacular buildings come on to the market so close to the city centre.
"Neville House and Sheraton House are both striking properties and the tremendous potential for conversion into unique living accommodation has been recognised by the many prospective purchasers who have already registered their interest with us in one of these superb apartments and now eagerly await the release of the first properties for sale. Clearly no-one wants to miss out on the opportunity to buy a piece of local history."
He added: "The buildings have retained all their Edwardian red brick splendour and they enjoy an exceptional location in the Neville's Cross area of Durham, an affluent district that is very popular with professionals due to its proximity to the city centre and the ease of access to Sunderland, Newcastle and Teesside by road and rail"
Knight Frank has an enviable reputation of involvement in high profile regeneration residential projects in Durham.
James Platts, for Knight Frank in Newcastle, added: "Durham continues to build its reputation as the North East's property hotspot and, as buildings become surplus to requirements, the university and other traditional land owners have recognised that some properties have excellent scope for redevelopment. The conversion of Neville House and Sheraton House can only add to the city's reputation for unique, high quality and desirable residential schemes"
Related website: Knight Frank
Sheraton House, Durham
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