First look at 87 New Square, chesterfield
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00:00 Hi, I'm Marcus Leatherton of Leatherton UK.
00:03 Just tell us a bit about the project and what you've got.
00:06 So yeah, so this is 87 New Square.
00:09 We're currently in penthouse number 8, which is a 2 bed, 2 bath with a separate toilet apartment.
00:17 As you can see, it's just high quality.
00:20 We've tried to restore the building to its former glory, but we've kept the exposed beams.
00:27 We've been sympathetic to the products that were already in the building.
00:31 And yeah, we're really, really proud of this one. It's turned out really well.
00:36 Do you have a tenant for it yet?
00:39 No, not at the moment. We're only going to market literally in the last week.
00:43 We only appointed an agent two days ago. So let's see how they go. I'm sure they'll be fine.
00:49 The question is, how much will this rent for a month?
00:53 This penthouse? This penthouse will be, I believe, £1,500 a month for this one.
00:59 But it's quite special, this one.
01:02 What makes it so special?
01:03 So this is the largest of all the units.
01:06 It comes with high speed broadband included. It comes with your water included in the bill.
01:11 So you've only got really your electric and your council tax to pay on top.
01:16 It's just beautiful. It's got a huge roof terrace that overlooks the town hall
01:20 and it overlooks the Peak District.
01:23 And when you see the bathrooms, you'll see why.
01:26 It's Carrara marble. It's got a television in the bathroom.
01:30 They're just beautiful. High end fittings, grower fittings, Neff appliances.
01:34 It's got a dishwasher. I could go on all day. I'd move into this one if I wasn't married.
01:39 What was it about the building that made you want to convert it?
01:43 Do you know? I honestly don't know. I walked past it six years ago and I saw the for sale sign
01:48 and I didn't know how I was going to fund it. I didn't know how the family were going to fund it.
01:52 I didn't know what we were going to do with it. But something said, just inquire about it.
01:57 We spent a lot of time dealing with Linda at the council and we secured the building.
02:01 On the 28th of June 2018, we took possession of it.
02:06 And it's been six years of blood, sweat and tears to get it to this stage.
02:11 Are you able to tell me how much you paid for the building?
02:15 We paid three hundred and... about three hundred and thirty thousand I believe to purchase it.
02:22 Any idea how much you spent?
02:24 I'll hand over to the penny how much I've spent.
02:27 I think it'd be a little bit classless to reveal that.
02:32 It's significantly north of a million pounds.
02:35 But it was never to be... if you got hold of a building like this and you did it for profit,
02:40 it would just break... it's just not right. It would break my heart to do that.
02:44 So we've... I know we've massively overspent on it.
02:47 But we've not just put skirting boards on, we've replicated the skirting boards that were here.
02:52 The plaster mouldings have been replicated and reproduced.
02:55 So every detail has been to the highest level. So I'm proud of what we've done.
02:59 And all the apartments will be for rent. Are you planning to sell any of them in the future?
03:02 No.
03:03 So it's going to be an investment?
03:05 It is an investment, yes.
03:07 Have you done any other residential properties around Chesterfield?
03:12 We've recently purchased another property that we're about to start work on.
03:16 Really?
03:17 But nothing of this size, just a small unit.
03:19 Are you able to tell us where that is?
03:20 That's on Chatsworth Road.
03:21 OK.
03:22 And then we're... no, we are actively now looking for a few more properties to go and something like this to go out.
03:28 And are they sort of going to be sort of unique in the way they look or...
03:34 Yeah.
03:35 ...from the outside or...
03:36 Yeah, no, we're interested in historic buildings, you know.
03:40 And it pains me to walk around Chesterfield Town Centre and see so many that aren't, you know, that are starting to form, you know, to a state of dilapidation.
03:48 So we've done our bit with this one. Hopefully other people will invest.
03:52 I think once you get the footfall into, you know, that you get people and residents in the centre,
03:57 then there'll be the need for more shops, more pubs and things.
04:00 And it will start to stimulate again. But people have got to invest in it or it won't happen.
04:04 So hopefully they will.
04:05 When will the first tenants move in?
04:07 Well, they can come the 1st of March.
04:09 1st of March.
04:10 The agent, literally, I believe, is about to put things on right move by the end of this week.