Work has started on transforming a neglected Stafford office building into an apartment block.
Birmingham-based Key Land Capital will renovate the Foregate Street building – known as Image House – over the next seven months and turn it into an attractive Private Rental Sector (PRS) development.
Stafford Borough Council gave planning consent for the scheme, which should reach practical completion in the second quarter of 2021. It will deliver 27 high-spec one and two-bedroom apartments.
Key Land Capital acquired the office building in 2017. It is located opposite Madford Retail Park and the former Stafford General Infirmary.
Key Land Capital CEO Kevin Sharkey said: “After all the turmoil right across the economy caused by lockdown, it’s fantastic to see construction work commence on creating 27 quality, affordable homes to replace an unloved office building.
“We’re confident that now is the right time to get back to doing what we do best, delivering great quality homes and attractive investment opportunities.
“Stafford is a great place to invest. It is a growing town and has a strong demand for quality apartments in a central location, ideal for young professionals. The building will offer good quality accommodation available at competitive rents.”
Funding for the £3.1 million office-to-residential development has been agreed with London-based peer-to-peer lender Blend Network, while contractor Connect PDI has been appointed to deliver the project.