Property developer aims to drive the regeneration of run-down area of Darlington

A property company is urging developers to see the potential of a run down area of Darlington, located within the heart of a prime heritage zone.

Prospect Property Management Group has recently purchased a vacant but extremely run down building at Station Road in the town.

The former three-story nine-bedroom House of Multiple Occupancy (HMO) has been empty for many months and is now in a state of disrepair.

However, business owners Joe and Moira Nicholson see real potential in it, and have drawn up plans to turn it into three luxury apartments, two of which will be two-bedroom and the basement which will be a one-bedroom dwelling.

The property is located within a designated heritage zone and as such, significant public and private sector investment is being committed around it.

Joe Nicholson, who runs Prospect Property Management Group, said: “There’s real potential with this purchase and I believe when its finished and converted into three luxury apartments, it will be a sought-after property in an area that has been identified for redevelopment.

“However, around the building we’ve purchased there are many other properties that need refurbishing, so I would urge any other developers to look at the area and see what it could be – collectively we can make a massive difference and turn this street into a prime residential zone in the heart of an up and coming area within Darlington.”

Prospect Property Management Group boasts an impressive portfolio of properties across Tees Valley and specialises in buying run-down homes and transforming them into modern, high quality properties ready for the rental and sales market.

Joe added: “Station Road is home to so many big, beautiful buildings which have huge potential, and with the right vision could easily be brought back to their former glory.

“It’s an exciting time for Darlington and we’re delighted to be playing our part in the gradual redevelopment of the Station Road area.”