Adderstone Group’s Jesmond Exchange has been voted Residential Development of the Year at this year’s Insider North East Property Awards.
Throughout 2017 Adderstone Group managed the conversion of the art-deco Jesmond Exchange building, located in the heart of Jesmond, Newcastle upon Tyne, one of the region’s first ever residential micro apartment schemes.
The 2018 Insider awards took place at the Marriott Gosforth Park on Thursday 3rd May and celebrated the North East’s best property companies, developments and deals over the last 12 months.
Built in 1949, Jesmond Exchange was formerly one of the most important telephone exchanges serving Newcastle. The 2017 conversion saw the first and second floors of the building transformed from commercial office space into 36 one and two bed residential apartments totalling 55 beds. The works took place above an operational telephone exchange on the ground floor and below three occupied penthouse apartments which had been added to the building in 2015. The entire scheme provides homes for 70 people.
This complex redevelopment relied upon innovative design to overcome space limitations and building complexities, managing a live site positioned between a commercial space below and residential apartments above.
Jesmond Exchange opened at 100 per cent occupancy in September 2017 after a nine month project build and with all apartments being let off-plan during a six week lettings campaign.
The judges noted that Jesmond Exchange tells a strong PRS story for the region. John Angus, Adderstone Group’s Senior Architectural Technician collected the award. He explained: “As a team we are proud to have delivered the region’s first residential micro apartment scheme. Everyone within the Group was involved in this project and to receive recognition from our peers for our hard work and creativity in the build is fantastic.”
“Throughout the project we were faced with a number of challenges and technical issues, these were resolved at every stage with innovative and thoughtful design.
“We have developed a building that not only works, it looks great, is in high demand, and pays the utmost respect to a significant building in Newcastle upon Tyne’s history.”
Apartments at Jesmond Exchange are suitable for young professionals and students. There are still a small number of apartments available this summer, visit www.jesmondexchange.com to find out more.