Property developer makes £42m City of Culture investment
More than £42m has been invested in Hull city centre by a developer carrying out a trio of schemes for residential use.
Jason Coleman, managing director of Iguana Developments, is launching what he says have been the “best kept secrets” in the city and his three buildings are at different stages of refurbishment.
The first to be ready is HU1 at Essex House on Manor Street, this has been renovated from a ten storey office block into 45 one and two bed apartments to include a concierge, cinema, gym, gaming room, ultrafast broadband, balconies, roof terraces and views of Hull.
The purchase of Liberty House on Liberty Lane in the Old Town has recently completed and work started to convert the premises into 25 apartments for sale complete with residents’ gym and cinema room.
The largest project of the trio is the Police Station in Queens Gardens which will be turned into 94 apartments, including 21 duplex penthouses.
Coleman said: “All of my properties have value added, not just a home but a lifestyle and now Iguana Developments is taking city living to the next level. In the past many developers have seen Hull as deserving just cheap and cheerful, but we offer a 21st century London experience by including luxury facilities within each building, for people who appreciate quality and demand amenities that reflect their aspirational lifestyles. I wanted to bring Kingston upon Thames to Kingston upon Hull.
“We are creating 175 apartments in Hull. This in-flux of people use local amenities, bars, shops and restaurants and along with the other private developments such as the Fruit Market, we’re bringing Hull’s Old Town back to life.
“As a business we employ anywhere between 40 and 60 local people at any one time along with my own team of five. We also use local contractors for the steel, cladding and windows, a contract worth in excess of £3m on its own at Queen’s Gardens.”
Danny Gough, managing director of letting and managing agent MyPad, says: “Jason and I have worked together since 2010. MyPad lets his properties around Hull and East Yorkshire to young professionals with all bills included and everything supplied, from 50” TVs down to a garlic press.
“As soon as I saw the plans for HU1 at Essex House I knew there would be huge demand.”
