Despite the difficult market conditions, Crystal has received a high level of interest in its new Bolton student accommodation scheme from investors.
Crystal Property and Land was granted planning permission to convert 30 Mawdsley Street into student accommodation back in February this year.
The plans provide for a total of 37 student bedrooms, each with en-suite bathroom facilities and shared kitchen and living space, plus an additional two self-contained bed-sit apartments.
The building is currently spread over three floors plus basement and was most recently used as a fitness club prior to a £100,000 refurbishment project to get the building back to a shell condition in 2011/12.
The building, located in the town centre, was built in 1868 and was originally occupied by the Mechanics’ Institute. Historically the street has been home to various professional services and still provides office accommodation to legal firms and accountants. A late night bar and restaurant are located towards the end of Mawdsley Street, which leads into the town’s main shopping precinct. The university itself is only ten minutes away on foot.
Crystal Development Surveyor Andrew McCormack said: “Having secured planning consent to convert this building into student accommodation, we were very confident that we could bring this building back into use. Our in-house development team have put together a scheme and we have been encouraged by the level of interest from investors who would like to purchase the building. We believe the interest demonstrates a step in the right direction for Bolton and Mawdsley Street which is likely to result in investment in the town centre which in turn will bring about positive change for Bolton.”
Plans for the proposed student accommodation can be found here.