Price Right project aims to lend a hand

Apr 24 2008 Evening Gazette

MIDDLESBROUGH-based Price Right Properties is targeting opposite ends of the social scale in Stockton as it launches a £635,000 investment portfolio.

The company aims to become the first in the area to transform empty properties into homes for tenants who are often rejected by other landlords.

If successful, the initiative in Bishopton Road could be a pilot for similar “high care” schemes across the Tees Valley.

Two town houses and a former hotel will be converted into 22 smaller units, which will be let to tenants with problems including drug and alcohol dependency. The scheme is expected to be complete within four months.

Supported by Social Services and drug and alcohol treatment agency Addaction, the scheme will offer a mentoring service to tenants and help them find employment.

Mark Holt, project manager for Price Right Properties, said it was aimed at “people who have fallen on hard times”.

Meanwhile, the company is driving forward plans for eight one and two-bed luxury apartments in Norton Road and last week it launched six luxury flats in Yarm Road, converted from a former factory.