Clearwater Developments: Transforming Westfield Hall into Luxury Homes
March 23, 2023
Clearwater Developments, a County Durham-based property developer, is making significant strides in Sunderland's real estate landscape with the transformation of Westfield Hall into luxurious residential homes. This ambitious project, fuelled by a £770,000 funding deal, marks another milestone for Clearwater in its mission to revitalise historic properties.
Originally built in 1896, Westfield Hall served various purposes over the years, with its most recent occupant being the registered charity Education and Services for People with Autism Limited (ESPA). Now, Clearwater Developments is breathing new life into this heritage site, repurposing it into four exquisite five-bedroom private homes while preserving many of its original architectural elements.
The injection of funds from the North East Property Fund has been instrumental in driving this endeavour forward. With the first conversion scheduled for completion this month, Clearwater anticipates a total revenue of £1.4 million from the project. Moreover, this initiative has not only fuelled economic growth but has also safeguarded 14 full-time jobs within its subcontractor network, further underscoring its positive impact on the local community.
Established in 2011 by Ranjeet Gill and Gush Kahlon, Clearwater Developments has distinguished itself as a premier player in property acquisition, management, and development. With a keen eye for preserving heritage while infusing modern amenities, the company has garnered praise for its commitment to excellence.
Mr. Gill expressed his enthusiasm for the Westfield Hall project, highlighting its strategic location and upscale features. He emphasized that the properties will offer spacious living arrangements with easy access to Sunderland city center, excellent transport links, and nearby amenities. Despite the meticulous modernisation efforts, Westfield Hall will retain its period charm, ensuring a unique blend of history and contemporary luxury.
Echoing Mr. Gill's sentiments, Mr. Cullen, an investment executive at FW Capital, lauded Clearwater's track record in revitalising both commercial and residential spaces. He reiterated FW Capital's support for Clearwater's vision, citing their previous successful collaboration on a derelict Victorian building in Seaham.
Matthew Ebbatson, investment programme manager at the North East LEP, highlighted the broader implications of the Westfield Hall development. Beyond its economic contributions, the project aligns with Sunderland's Riverside Sunderland masterplan, promising transformative changes for the city and the wider North East region.
The North East Property Fund, with its focus on residential and non-speculative commercial developments, plays a pivotal role in nurturing such initiatives. Offering loans ranging from £250,000 to £2 million, the fund provides crucial financial support to developers like Clearwater Developments, enabling them to realise their vision and contribute to the region's growth.
In conclusion, Clearwater Developments' ambitious venture to transform Westfield Hall underscores its dedication to revitalising historic landmarks and creating contemporary living spaces. With the support of funding partners and a steadfast commitment to quality, Clearwater continues to leave a lasting imprint on Sunderland's architectural landscape, promising a vibrant future for the community.