Classy new development

It is carrying out the work with support of a six-figure funding package from Lloyds Bank Commercial Banking.

The firm’s latest project will see it convert St Cuthbert’s Hall - the main building of the former Sunderland High School, which closed in 2016 - into 15 modern apartments with 24 parking spaces.

The development, aimed at professionals, will primarily feature 2-bedroom apartments, each with an approximate floor space of 100 square metres.

Clearwater Developments expects to generate £2 million in revenue from the project, which will boost its turnover this financial year by 25 per cent.

The business plans to reinvest its profits from the build into a future development project in the North East and intends to hire an additional staff member this year to support its ongoing growth.

St Cuthbert’s is Clearwater Developments’ second project on the former Sunderland High School site.

In January 2018, the business completed a similar conversion of the school’s Centenary Building into nine apartments, with support of an additional six-figure development finance package from Lloyds Bank.

With 20 local contractors involved in the development work, St Cuthbert’s is scheduled for completion in December.

Ranjeet Gill said: “St Cuthbert’s has been an exciting project for us, as it is by far our most grand and largescale redesign. Our quality apartments are perfect for those looking to get their foot on the property ladder for the first time or those wanting to downsize.

“While developing modern accommodation is our focus, we have made great efforts to preserve the original building’s windows, stonework and overall character. Lloyds Bank has been by our side with other projects in the past. Without its support on this conversion, we wouldn’t have been in a position to progress the project and maintain a key piece of local history that has served generations.”