Heritage & Listed Buildings

Property Market Analysis

The Warren Youth Project

Overview 

The Warren Youth Project (WYP) are an independent charity that provides support services to marginalised and vulnerable people in Hull. AspinallVerdi were retained to provide some property market advice in relation to the refurbishment / repurposing of the upper floors of their accommodation in Queens Dock Chambers, Hull. The WYP currently let the property from the City Council but were considering an Asset Transfer as well as ways of securing funding to carry out works to fully utilise the upper floors. The WYP wanted to utilise the upper floors in order to generate income, but also create job opportunities for the people in the community it supports.

Services

AspinallVerdi produced a focused property market research report analysing the following from a supply and demand perspective in Hull City Centre:

• Private rented residential accommodation
• Flexible workspace
• Overnight accommodation (hotels / serviced accommodation)
The report was prepared to inform decision making and the next stage of the design process.

Outputs

AspinallVerdi made recommendations on the most viable, deliverable and sustainable uses for the upper floors. This took into consideration the requirements of the WYP in terms of:
• operational costs,
• income revenue potential,
• appetite for risk, and
• job creation potential.
As part of this, AspinallVerdi provided income estimates comparing private residential accommodation for let (on Assured Shorthold Tenancies), versus short-term overnight accommodation.

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