Time to aim higher

Mar 4 2008 Evening Gazette

THE OWNER of the luxury Tall Trees Hotel in Yarm has warned that Tees Valley is in danger of being left behind the rest of “Middle England” by a failure of investment in its “trophy sites”.

Javed Majid, who will shortly embark on a £100m redevelopment at Tall Trees to include 250 exclusive apartments, said the area, which he described as “one of the most beautiful in the country”, was underselling itself.

“I have travelled the world and seen deserts turned into oases. Sometimes we live in a cocoon up here and we are getting left behind by not realising the potential of areas such as this one,” said Mr Majid, who now lives in Yarm.

“I have already had enquiries from people in the south of the country who would be prepared to come and live here, and I haven’t promoted the development yet.”

A massive redevelopment of the existing Tall Trees site will see 250, two and three-bedroom apartments and penthouses as well as a 300-bed hotel, leisure centre, and banqueting suite, set in impressive grounds.

The plans have been given the go-ahead, subject to confirmation on landscaping and use of materials, and the scheme is expected to be ready by 2011. It is being funded by a mixture of bank loans and undisclosed private investment.

The existing nightclub, banqueting suite and leisure centre will be demolished.

Mr Majid, who bought the hotel from former Middlesbrough Footbal Club chairman Charles Amer in 1985, urged investors to look at similar projects in the area.

He said: “This site is like Middle England. We will target tourists and local people as well as business customers and prices will remain affordable even though it is a luxury development.”

Born in Pakistan, but raised in south Yorkshire, Mr Majid previously transformed the former Odeon cinema in Stockton High Street into The Mall and a ballroom in Bradford into The Maestro.

He remained “totally confident” that his luxury pads would sell - even in the current housing market slowdown.

He said: “I believe totally that demand for this type of property in this location will be high.”

Although he refused to speculate on selling prices, Mr Majid said they would be comparable with similar properties in the area.

At current market rates, the cost of a luxury two-bed apartment is likely to be about £250,000.

Dave Bassett, managing director of Homes and Finance in Yarm and Ingleby Barwick, said he had no doubt the new development would be highly sought after by both locals and incomers.

“There seems to be an insatiable appetite for the right property in the right location,” he said.