Market Leads & Opportunities
Bank backs historic property conversion
A grade II-listed property in Newcastle is set to be converted into accommodation for key workers after the companies behind the project secured a £1m loan. The development is expected to create 50 jobs.Newcastle-headquartered Indo Developments is working with Claremont Place Ltd to transform Claremont House.The property near Newcastle Royal Victoria Infirmary and Newcastle University’s School of Medical Education will provide 11 apartments. Completion is scheduled for 2021. Founded in 2019, Indo Developments is run by director Vishal Jerath and specialises in residential conversions. Most recently, it project-managed two 27- and 46-bed apartment schemes in Newcastle city centre, and a development of four luxury apartments in the Jesmond area.Lloyds Bank has provided a £1m package to support the scheme.
More Market Leads
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