WORK has begun on a £55m investment to bring New York style to the region.

The Akenside group has begun work to convert the Barbican building at St Peter's Wharf, Sunderland, into Manhattan-type loft apartments.

Designed by Mosedale Gillatt Architects, the first phase of the development is under way and includes the building of a block alongside the existing building, which will consist of 60 loft apartments and a restaurant and caf bar.

Akenside director Ashley Cutts said: "We feel extremely confident that, being a forward looking and dynamic city, Sunderland is an ideal location for such a venture, having already built on the riverfront the new St Peter's Campus at the university, the National Glass Centre and Wylam Wharf, in addition to redeveloping Mowbray Park and the Winter Gardens."

One and two-bedroom Manhattan-style loft apartments and three-bedroom penthouse suites will be available, with prices ranging from approximately £80,000 to more than £300,000.

The development is expected to take up to four years to complete.

Mr Cutts said: "There is a growing desire to attract residents back into the city centre.

"We anticipate the development will not only attract young professionals, academics and creatives, but also couples whose families have flown the nest and are looking for a lifestyle change."