Member Article

Work on sold-out Orton Square development complete

Work has completed at a new residential development in Peterborough that sold out before contractors had started on site.

Joint venture partners, Prosperity Wealth and Bowlhead Properties, said that the conversion of Orton Square, a former industrial/business unit, was complete.

All 24 one- and two-bedroom apartments at the three-storey development were snapped up within weeks of launching to the market.

Previously home to independent financial advisers, Ringrose Grimsley, the newly named Orton Square was converted into residential space under the government’s Permitted Development Scheme (PDR).

Marc Pearce, head of sales and marketing at Prosperity, said that Orton Square had proven popular with both buy-to-let investors and owner-occupiers.

He said: “We are delighted to have completed work at Orton Square. We repurposed the commercial space following high volumes of enquiries from potential residents and investors, with many of the apartments being purchased entirely off-plan, even before the contractors had begun work on the conversion.

“As a business we have carefully developed a reputation for bringing profitable pre-built and off-plan property investments to market for more than ten years, with an emphasis on key locations where yield and rental demand is high. Peterborough is a vibrant, culturally rich city and its rental demand continues to strengthen as its close proximity to London makes it the ideal commuter base.”

Orton Square is located at Orton Southgate, within three miles of Peterborough city centre at the junction of the A1 and Fletton Parkway. It is the latest development to be completed by Prosperity Wealth and contractors, The Brightfield Group, in Peterborough, having delivered similarly successful schemes at Orton Plaza, Varity House, The Pinnacle, New Priestgate House and Town Gate.

Spencer Wrench, CEO Brightfield Group, said: “Orton Square is an example of a partnership that is based on more than just building apartments - it’s about breathing new life into empty spaces, creating new communities for a thriving, rent-hungry city. Prosperity’s unmatched payment plans offer a favourable exit route and collectively, we are excellently placed to continue delivering first class residential and mixed-use PDR schemes both in Peterborough and across the UK.”

This was posted in Bdaily's Members' News section by Martin Hicks .