Work on the redevelopment of St Leonard’s Home in Lancaster has accomplished.
Knight Frank Funding Administration (KFIM) acquired the location for Lancashire County Pension Fund (LCPF) in 2017 and subsequently organized a funding settlement with Robertson Property, which secured planning and listed constructing consent.
It then procured the £14m redevelopment of the listed buildings with sister firm, Robertson North West.
In January 2019, KFIM engaged Houses for College students pursuant to a public tender to market and handle the location, which was initially constructed by the Gillow household for the manufacture of furnishings. Nonetheless, it had fallen vacant after changing into surplus to the necessities of the then proprietor, Lancaster Metropolis Council, in 2014.
The venture has introduced the buildings again right into a use which can present scholar lodging for these attending each Lancaster College and the College of Cumbria.
David Westwater of Robertson Property stated: “Collectively, now we have introduced this as soon as disused historic constructing again to life and supplied a lot wanted scholar lodging in Lancaster.”
John Types of KFIM added: “This venture was an excellent match for the funding targets, offering a horny return for the pension fund but in addition a useful addition to Lancaster’s scholar lodging provide that can additional strengthen town’s standing as a prime vacation spot for larger training and can complement different vital funding tasks that the college is progressing.
“We proceed to actively search different alternatives to spend money on Lancaster and within the county extra broadly.”