Developer Westrock has bought a 110,000 sq ft office block in Bedford to convert to apartments for rental. It aims to have the Merton Centre ready for occupation by the end of 2015.
The building was bought for £4.7 million and will be converted to create 160 apartments with over 200 parking spaces, as well as a gym, and retail units.
As a result of the deal, Westrock’s PRS pipeline now adds up to more than 1,500 homes, while the company aims to double its numbers over the next two years. It has to date purchased second hand office sites in a number of provincial towns including Portsmouth, Exeter and Crawley – more details here. The company also recently added Dominic Martin to its executive team.