No 82 The Unthank was a conversion of a former hotel (C1 use class) into a block of 19 serviced apartments with an onsite concierge and gym.
The strategy was to convert the building into serviced apartments, establish a trading history and then retain via a commercial mortgage.
No 82 The Unthank has now been open since March 2018 so benefits from 1.5 years trading history.
It generates an average annual gross income of £360,000 with the exit strategy being disposing of the asset and trading business once it possesses 5 years trading history.
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