Featuring a mix of attractive single- and two-bedroom apartments, George House is the subject of a multimillion-pound conversion scheme that will see a city centre office building transformed into some of the city’s most prestigious residential units. Fitted out to an exceptionally high standard and with an array of luxurious ‘extras’, this is a development that’s consciously targeting higher-paying professional tenants.
Built on seven storeys, George House is located in Hull city centre, close to the headquarters of many major employers, banks, shops and the City Hall. Also nearby are educational institutions (including Hull College) and the head office of Hull City Council, which lies just the other side of a picturesque park: Queen’s Gardens.
The building itself comprises six residential storeys built over existing commercial units on the ground floor, and a basement level that will accommodate a lobby, secure cycle park and storage. It will retain its brick façade but the interior will be wholly remodelled. Refurbished to the latest standards of safety and energy efficiency, it promises tenants a stylish, comfortable living environment, coupled with very low running costs.
For investors, Hull promises a buoyant economy and more residents in better-paid roles; a reliable recipe for growth in both capital and rental values. But what’s more, the local population is forecast to swell by as much as 28,000 by 2035 – a trend that will put added pressure on an already overstretched property market. This, too, should help to underpin improving returns for investors.
