CapitalandCentric, the developer leading the multimillion-pound Albion Square regeneration in Hull city centre, has indicated that this project could be the first of many in the city. The company, co-founded by Tim Heatley and Adam Higgins, was recently confirmed as the preferred lead development partner for the ambitious overhaul of Albion Square by Hull City Council.
Ambitious Plans for Hull
The North West-based developer is currently working on 14 neighbourhood schemes across the UK, having already completed 11 projects in major cities such as Liverpool, Manchester, and Sheffield. CapitalandCentric boasts a pipeline of regeneration developments comprising more than 6,000 homes, with a combined value of nearly £2 billion, including their ambitious proposals for Hull city centre.
The firm has built a strong reputation for revitalising areas, creating thriving destinations for living, working, and socialising. Co-founder Tim Heatley confirmed that the company is eager to deliver hundreds of homes—over 200 rental properties—alongside a range of other amenities as part of the Albion Square development.
Long-Term Investment in Hull
Heatley stated: "It probably seems like this has happened all of a sudden, but we've actually been looking to try and do something in Hull for a long time. Hull suits our strategy of investing and thinking long-term about how we can transform often overlooked or under-invested places."
He added: "Hull is definitely on that list – it's punching below its weight in some ways. It could be much more than it currently is, and it hasn't had the benefit of some of the core cities' investment. The scale of the project was important, as was the ability to move at pace to make something happen. It's got a huge public area, so Albion Square had the right hallmarks for us of a CapitalandCentric project."
Homes and Amenities
The development will include over 200, possibly up to 300 homes, along with restaurants, bars, and cafes. Heatley noted: "We're not necessarily looking at additional retail because we feel places are often over-retailed. There are lots of opportunities for retail that exist in the square and around it, but as we are an operator as much as a developer, we're going to provide additional facilities to the residents."
These facilities will include a mini cinema space, a gym, a residents' lounge, a yoga and pilates studio, and possibly roof terraces, public squares, and private gardens.
Affordable Rents and Long-Term Vision
CapitalandCentric keeps its rental values at lower, more accessible levels in towns and cities requiring regeneration, compared to more established urban centres like Leeds. This business model enables the firm to deliver its developments. Heatley explained: "In terms of demographics and rental values, Stoke-on-Trent is a good example. Rents are much lower than they are in core cities such as Manchester and Leeds. We have to think long term about how we can make it viable."
He continued: "We think about it over several years. Rather than build it and then sell it off to the highest bidder, we're going to keep all of the completed project together and rent them out at rents that are affordable to local working people, and hopefully attract new people to live in Hull as well."
Future in Hull
Heatley is eager for Albion Square to mark only the beginning of the firm's involvement with Hull. The company already has two developments in Liverpool and six in Manchester. He added: "Wherever we have started, whatever city we've started to develop, we have continued to develop and still are now. That's a really good test of 'are we doing a good job?' Do people like what we do? And is it successful? So hopefully it's the first of many things we will do in Hull."
