North East developer to transform historic school thanks to six-figure funding

North East developer to transform historic school thanks to six-figure funding

A Seaham-based property developer has secured funding from Lloyds Bank Commercial Banking to transform a historic school building into an apartment complex.

Clearwater Developments will develop St Cuthbert’s Hall at the former Sunderland High School into 15 new 100 sqm two bedroom apartments.

The firm, founded in 2011 and co-owned by Ranjeet Gill and Gursh Kahlon, expects to generate £2m in revenue from the project and plans to reinvest profits from the build into a future North East development scheme.

With the St Cuthbert’s Hall development estimated to increase Clearwater Developments’ turnover by 25 per cent, the company also plans to hire an additional staff member to support its ongoing growth.

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