The expertise of three specialist businesses within the Garness Group has proved pivotal in transforming an historic Hull building from an empty space into one of the city centre’s most impressive and sought-after residential offerings.
‘The Bank’, which stands on the corner of George Street and Bond Street, has been completely revamped as part of a £7.4m refurbishment, and is now home to some of the most sought-after luxury living apartments in the city.
It is a far cry from the days when the building, the former home of Lloyds TSB, stood empty for many years, following the bank’s decision to leave the premises back in 2014.
Now, the building has been given a new lease of life and is home to a new community of residents, paying anywhere between £725 to £925 a month to live in modern studio and one and two bedroomed apartments.
The development has benefitted from the expertise of three Garness Group businesses as it has been transformed from an empty shell into one of the city’s leading living spaces.
True regeneration which brings real benefits to city
David Garness, Managing Director of the Garness Group, says the project has highlighted the company’s unique, complete property services offering and expertise, from commercial property selling and investment to residential management and lettings.
Commercial property specialist business, Garness Jones, were involved in initially marketing and selling the property for conversion into residential use, after it had sat empty a number of years.
Now, Pure Block Management and Gro Residential Management have been appointed to oversee its day to day management and lettings on behalf of the developers, leaseholders, and tenants.
“When people ask about what Garness Group does, and why we established dedicated specialist businesses a few years ago, I can reference The Bank project as a great example,” said Mr Garness.
“It demonstrates how our clients can benefit from the knowledge and expertise all being in one place for them, as collectively, across our businesses, we are able to advise and handle every element required.”
“City centres have many fantastic old buildings, which are full of character and history, but are left stood empty for far too long once their original occupiers move on.
“When we first became involved with this building it was clear it had the potential to be a fantastic residential complex, but that needed investment, vision and determination, and support.
“This project has been well supported by the city council, and we’re delighted to now be providing specialist support in the day to day, and longer term management.
“Repurposing properties like this brings huge benefits to the city centre. We have to make the best use of quality properties, and the more successful residential developments there are, the more investment in leisure and retail will follow.”
Specialist businesses taking care of management and lettings
Situated a stone’s throw from Albion Square, which is to benefit from investment and redevelopment, Mr Garness said he was delighted to have two businesses now working to ensure ‘The Bank’ is a success.
“We’re a business which cares about the city and wider region, and so to be entrusted on developments like this is really important to us,” he said.
“Through Pure Block Management we are now managing The Bank on behalf of the owner. This means being proactive in terms of carefully planning and managing its budget, service charge management and collection, ensuring it is well maintained at all times, and that compliance requirements are always met.
“Through Gro Residential Management we are playing the important role of marketing the excellent apartments when they become available and ensuring they are occupied by happy tenants who are benefitting from an excellent, fully-managed service.
“It is great to be playing such an important role in a project of this significance in the city.”
