The King’s Buildings, which stands directly opposite Hull Minster and was built between 1866 and 1875, has been transformed from an empty shell in less than a year following a £4m investment by Hull entrepreneur Paul Luen.

A VIP opening and showcase evening for the 24 apartments is being planned by Mr Luen’s company, Lucava Investments, with the fully furnished apartments available to rent from

September 1.

New apartments in Hull’s latest high-end residential development, marketed as the city’s ‘Royal Residences’, have been placed on the market to let.

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Mr Luen said he aims to offer a living space which rivals the very best boutique hotels, while creating a community of ‘aspirational people’ who will thrive living, working and socialising in the heart of Hull.

“The aim throughout this project has been to raise the standard of developments like this in Hull up another notch and create a truly aspirational place to live in the city,” he said.

Mr Luen added: “In modern times it is critical to balance working from home with socialising, to optimise energy and mental health, and that is why we have made the communal areas a key focus of the development.

The King’s Buildings, which stands directly opposite Hull Minster and was built between 1866 and 1875, has been transformed from an empty shell in less than a year following a £4m investment by Hull entrepreneur Paul Luen.

“Alongside the co-working and socialising area, which is ideal for residents to relax in, host meetings, or just simply enjoy a change of scenery for working, we have also created The Kings Courtyard, a private outdoor space which includes a fire pit, relaxing sofas, large bean bags and a BBQ area. It is a place where residents can relax together.

“We’ve also built a dedicated residents’ gym with cardio machines, free weights and other equipment. We really want to create a community, as this will help ensure the development succeeds long term, and has a positive impact on the city.”

Prices range from £950 to £2,500 a month

“The market in Hull is very strong at the minute and we have seen the demand is there for the highest quality residential developments with some recent schemes commanding similar rental values and doing very well,” said Mr Luen.

“We have to keep raising the bar, and that is what I believe we have done here. I decided to go down the rental route as I wanted to retain my own interest in the development going forward.

“I don’t want the apartments being bought up by overseas investors and to stand empty. I want it to be a real community and I want to be part of supporting that by always ensuring the development is maintained at the standard it is on opening day.

“I’m a Hull lad and I really think we have created something special for the city with the history of the building and its features to the standard of accommodation, and of course the great location beside the Minster and close to the Fruit Market and city centre.”

Paul White, agency director at commercial property specialists Garness Jones, handled the sale of the King’s Buildings, which have housed Hull Telephones Club, a shopping arcade and a market in the past.

“This is exactly the sort of investment that Hull needs,” he said.

“It is ambitious, is of the highest quality and is the sort of development we have seen in other cities such as Leeds and Manchester in previous years and have looked at with envy. People have previously suggested Hull can’t support developments of this standard, but it can."

Hull's new 'Royal Residences' hit the market after £4m investment to transform historic King's Buildings