Former Dudley office block set for £14m residential conversion
A 29-year-old Midlands property entrepreneur is set to convert a former office block in Dudley into a £14m residential development intended to ease the borough’s housing shortage.
Falcon House, The Minories is on the fringe of the town centre and is the former base of the West Midlands Ambulance Service and other NHS services.
Arran Bailey, owner and managing director of ALB Black Country Properties, purchased the 1960s office block before auction and has submitted a planning application to convert the 88,000 sq ft, eight-floor building into 65 one bedroom and 76 two bedroom apartments.
After the NHS relinquished the building in 2013 it was scheduled for demolition to make way for a supermarket complex, which would include a café and petrol station.
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However, the plans were scrapped by Commercial Estates Group and it was feared the block would share the same fate as the town’s infamous Cavendish House building, which has lain empty for decades and become one of the Black Country’s most recognised eyesores.
Ironically, a demolition order has now been submitted for Cavendish House which will clear the way for a new mixed-use scheme as part of the town’s ongoing regeneration.
Happily, it does not appear the Falcon House will share the same fate.
Mr Bailey said: “The local area has been in need of new housing developments, and we are excited to play a big part in the area’s regeneration.
“The project will be a great opportunity to bring more footfall to the town by attracting young professionals. This will help to boost the local economy and will improve the area’s image by updating outdated buildings.
“This is a fantastic project for us and we have received a lot of positive feedback already following the plans. We are very much looking forward to the start of the project so people can start to see the benefit of the regeneration.”
The young entrepreneur, who is based in Nottingham, owns a large portfolio of regeneration projects, all of which will be progressed along similar lines to Falcon House.
Leeds architects Headoffice3 has designed the new development and will be managing the works to complete in 2017.
Glen Harding, CEO of headoffice3, said: “We believe this project will genuinely improve the local demographics and breathe new life into a tired block in urgent need of renovation. The external façade alterations will create a new, vibrant and exciting feel to the building.”
Income-through-property specialist Prosperity has acquired the site as part of its £100m buy-to-let investment portfolio. Delivering to a global client-base, the UK-based firm offers discounted UK property as a long-term investment opportunity.
