Situated close to the UNESCO World Heritage Site Hadrian’s Wall in the county of Northumberland, Hexham has been named amongst the happiest places to live in Britain. Coupled with its excellent transport facilities to Newcastle upon Tyne, there are many factors at play that make Hexham an extremely desirable place to live.
Historically, developers have seen vast potential in The Old Workhouse, but time and again they have been unable to realise said potential.
In late 2020, the project presented itself to us and was assessed thoroughly by the Seventy Ninth Group’s acquisitions team. Due to the amount of false starts the development had previously seen, our team conducted extensive due diligence and plans for the project to ensure its financial viability; we were happy to find that this opportunity fitted perfectly with our area of expertise.
This project will see the conversion of the former union workhouse into 34 exclusive residential two and three-bed apartments and townhouses, situated in the centre of the historic market town of Hexham.
Local residents and community groups such as the Hexham Civic Society are keen to see this redevelopment completed. Restoration of this historical site not only allows us to breathe new life into these long-neglected buildings, but it also provides us with the opportunity to find new and interesting ways to give back to the area by supporting local fundraising organisations. We are looking to work with a number of Hexham-based charities in 2022; please stay tuned for further details on these charities in the coming months.
With our purchase of the site completed and around-the-clock security measures now in place, we are excited to begin progressing construction works on the development very soon. We will, of course, keep all of our introducers informed of updates on the site as and when they occur; until then, we would like to present some key financial information on the project.