Former job centre to be transformed into apartments
A former job centre in Redditch is to be transformed into 98 apartments.
The office block on Prospect Hill is undergoing a multimillion-pound refurbishment by Empire Property Concepts.
Solomon New Homes, which provides off-market property to investors, has already sold 39 apartments, including 34 during the first 100 days of lockdown.
Solomon founder Andrew Ward said: “Redditch has a growing population of around 85,000 and it’s part of one of Britain’s largest and successful manufacturing regions. Despite the pandemic, the combination of rising employment, a growing population and strong inward investment has helped to sustain a rewarding private rental sector in the town.
“Rising employment has prompted an inward migration of younger workers, and this has boosted demand for smaller rental properties. The apartments at St Stephen’s have been in particular demand and we’ve seen a steady flow of sales during lockdown. Whereas semi-detached properties have generally lost value over the previous 12 months, flats in Redditch have appreciated by a very impressive 19%.”