Developer gets £2m to convert building

A PROPERTY developer has received £2 million to convert an office building back to its former glory as four residential homes.

The site, at Dale Road in Matlock, was originally two, three-storey homes built around the 1920s.

During the 1980s they were converted into offices but have remained unoccupied since 2002. Current owner Gurdial Rai spotted the building while out walking with his family.

He immediately saw its potential and bought the property, which overlooks the River Derwent, in February.

Mr Rai intends to reinstate the period features of the property, including sash windows, and introduce a number of environmentally-friendly improvements.

He is also building a further three terraced homes and two semi-detached homes to the left of the site.

He said: “My family and I have been coming to the Derbyshire Dales for over 30 years for walking and cycling holidays.

“When I saw the property for sale, I knew it would benefit from being restored to its original condition. Its location on the outskirts of the town makes if very appealing and I hope to make the new housing affordable to the local community.”

Funding for the £2 million development was provided by Barclays Business.