A £3 million transformation of Hull’s former Comet call centre is underway to bring in more city centre living.
The seven-storey George Street building has been acquired by Ferens Property Trading Ltd, in what will be a third venture.
It follows Paragon House and Ferens Court developments in the past five years.
Steven Crane, director, said: “As a developer we find Hull very forward-thinking for this model, having people living and working in the city. It is part of the regeneration plan that the city council has.
“The common theme for us has been working with buildings that were unloved, unused buildings - vacant before we got them, or perhaps a single tenant - where they are starting to move towards disrepair. Hopefully we are delivering something that uplifts and progresses the area.”
The plan is for 47 apartments of one and two-bed layout.
“Being on a different side of the city, it gives us an opportunity to do something slightly larger, something slightly different,” Mr Crane said.
Comet workers left in January 2013 following the collapse of the electrical giant. It has since been partly occupied by outsourcing call centre ResQ Ltd - itself having taken space in the emerging Hammonds of Hull redevelopment.
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The site is close to the K2 mixed-use development in Bond Street and a stone’s throw from the proposed new £130 million Albion Square scheme - and boasts excellent views over the city.
PPH director Ben Cooper brokered the deal, and believes the proposed transformation proves investors are impressed by Hull’s vision to be a city where people live, work and socialise.
Mr Cooper said: “It’s great to see a property developer spot the potential Hull has as a city, and I believe they are intending to convert the property for residential use.
“George House offers a superb conversion opportunity and it will be great to see the old Comet building brought back into full use."
Following on from this sale PPH Commercial has also been instructed to sell neighbouring Criterion House, which was also occupied in the past by Comet.
Comet launched in Hull in 1933 by George Hollingbery, and began selling and recharging wireless batteries.
It evolved into wider electrical goods and a first superstore as an early pioneer of out-of-town sites opened on Clough Road in 1968. It listed on the stock market two years later.
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The firm changed hands several times over the years, before being bought by private equity company OpCapita for just £2 in 2012.
Losses totalling £95 million were recorded later that year and all 236 stores were closed that Christmas. In total 7,000 jobs were lost, including 200 at George House.