Finance
How a Department Store Became a Home

SKA Developments property developer based in Kirklees, West Yorkshire, owned by Khalid Pervais has organised a finance and permission solution to convert a derelict department store into modern student accommodation.

 

103 New Street is where the old department store building is located and was previously a popular hub with commercial shopping and nightclub facilities. However, the doors were shut for the last time around 20 years ago.

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Now, SKA Developments is intending on transforming this abandoned centre into affordable, modern student housing accommodation. Across the 7 floors, these new 134 student beds will come with en-suite studios, dorms with facilities and one-bedroom or two-bedroom apartments.

Zeb Pervaiz, director of SKA Developments, said: “This project represents an extremely important chapter in the redevelopment of the town centre and it’s something we’re very excited to be leading. Our plans will transform the site into a spectacular development and bring a long-vacant building back into use, helping to create a vibrant town centre.”

Mr Pervais continued, “The scale and ambition of our plans is testament to our passion for developing quality sites, and we’re delighted to be playing such an important role in Kirklees Council’s wider vision. This scheme, along with our plans for the Greater Waterfront Quarter, shows our ambition as a developer and represents the next phase in the growth of our business.”

Cllr Peter Mcbride, Cabinet Member for Regeneration, said: “The redevelopment of this historic building is fantastic news. SKA Developments have already proven themselves as a business that’s committed to Kirklees and we’re in full support of this important landmark scheme.”

The regeneration of old buildings is a large-scale project that promotes economic growth and the quality of living in the area. The social effect of construction is demonstrated substantially through the transformations of unused units and this development is sparking excitement amongst the younger generations and student communities.

Compariqo Finance offers bespoke re-financing solutions to the property sector. Contact one of our advisors if you are considering further finance on your home.

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