Transformation of Marygate House, owned by Wakefield, to cost approximately £3 million for residential purposes
In an exciting turn of events, Marygate House in Wakefield is set to undergo a significant transformation, as Priestley Homes, a multi-award-winning developer known for high-quality refurbishment projects across the North of England and London, joins forces with DI Properties for a premier development in the city.
Nathan Priestley, CEO of Priestley Homes, has expressed his excitement about the potential in Wakefield, a city on the rise. The development aims to boost the local economy and support many of Wakefield's businesses.
The developers, IP Marygate House Ltd, a joint venture between Priestley Homes and DI Properties, have secured funding from UK-wide specialist lender, Together, to help purchase the site. The refurbishment scheme, estimated to cost £3 million, will create 36 high-specification apartments for rent.
Marygate House, which boasts permitted development rights to convert the upper floors into residential units, will feature luxury furnishings, large windows, spacious bathrooms, and up to 1GB fibre broadband. The development is expected to drive interest in urban living in the area.
A planning application was submitted to Wakefield Council in March 2021 for the construction of an additional storey. If approved, Priestley Construction will begin a 12-month build programme in Q4 2021. Existing ground-floor retail spaces will remain, and the developer is designing a new street scene with upgraded shop fronts and canopies.
One of Priestley Homes' notable projects is Bradford's Conditioning House, featuring 153 luxury 'New York-style' apartments in a restored Grade-II listed mill. This upcoming development in Wakefield is poised to follow in the footsteps of such successful projects.
A decision on the planning application for Marygate House is expected in Q3 2021. If all goes as planned, the development will undoubtedly become a landmark in Wakefield city, contributing to its ongoing revitalization and growth.
