Hull city centre is on course for 'major transformation', expert says
Queen Victoria Square in Hull
By Hull Daily Mail | Posted: 16 May 2018
Hull city centre could soon be a "cosmopolitan" place thanks to a major transformation, according to a leading property expert.
Nick Pearce, from PPH Commercial, said recent exciting developments in the city centre has set it on course for a big revamp.
He cited the unveiling of the new K2 building and the stunning Fruit Market development as playing leading roles in the change.
“The office market in Hull and the East Riding has seen some significant changes, but nowhere has this been more prominent than in the city centre,” said Mr Pearce, one of the founders of PPH Commercial back in 1990.
“City of Culture obviously raised awareness of the city and this has resulted in a number of existing office buildings in the city centre being acquired under permitted development roles for conversion into residential premises.
“In 2017 alone, the sale of the former Queen’s Gardens Police Station, Essex House on Manor Street, Ferens Court on Anlaby Road and part of Kingston House and King William House are all great examples of this.”
With more than 30 years of commercial property experience in Hull under his belt, Mr Pearce is used to identifying development opportunities for a wide range of clients, from local investors through to national and international companies.
Having helped to secure the future of several significant landmarks in Hull during the 2017 City of Culture celebrations, he believes the city centre is heading towards a major transformation – fuelled by demand for multi-use assets.
He said: “With two or three other offices currently under offer for similar projects, the city centre is changing and adapting to become a place where people will live, work and socialise.
“Buyers from our region and out-of- town developers have shown interest in these sites because they realise how much potential they have. They also recognise that Hull is changing as a city and they want to be part of it.”
With building one and two @The Dock virtually fully occupied and the final phase of the Wykeland development due to start in the near future, the city’s Fruit Market area is also continuing to enjoy further regeneration.
According to Mr Pearce, the creation of areas like this - which can be used by a wide variety of people for home, work and leisure - will help to transform Hull city centre into a multi-use hub for the next generation.
He said: “The number of enquiries we are receiving for quality office space is constantly improving. This is probably happening because those who need new space have fewer options to look at.
“In my experience, this is a sign of confidence in Hull, the people who live here and work here, and the local economy.”
Hull to benefit from 4m Northern Powergrid investment in bid to prevent blackouts