Major plans to convert a Buckinghamshire office block into a build-to-rent development of 237 high quality apartments have been revealed today by Urban Village Group.
Westminster House is a £69 million private rented sector development, which will see the conversion of the former AGF House, at Avebury Boulevard, into much needed homes in Milton Keynes city centre.
The new development will comprise 237 apartments over six floors, providing a range of high specification residential units featuring a residents’ gym, cinema, communal entertainment facility and residents’ work spaces. The scheme also includes the provision of residents secure parking and CCTV security.
Proposals have been submitted to Milton Keynes Council for the development. Construction could start early next year subject to achieving planning consent.
Westminster House is located in the heart of Milton Keynes, close to the Central Shopping Centre with all of its retail, leisure and restaurant offer just a short walk away and an eight minute walk to Milton Keynes Central overground train station, providing direct services to London Euston within 33 minutes.
Urban Village Group chief executive officer Nick Sellman said: “There is a strong and growing demand for homes in the private rented sector and our Westminster House development will help to address the growing requirement in the Milton Keynes region.
“Currently, there are 4.5 million households in England now renting, representing 20% of the market, which has increased from 10% in 2001. In the next 15 to 20 years, more people are expected to rent rather than own their own homes. As the national housing shortage continues, with an average 200,000 homes built each year against a Government target of 300,000, there is significant scope for major growth in the build to rent sector.”
Developments director Graham Haydon-White said: “We are looking forward to creating an exciting new development of high quality homes right in the very heart of Milton Keynes’ city centre. We will be transforming an empty and unloved office building into a place people will really enjoy coming home to, with all the shopping and leisure facilities right on their doorstep.”