Prosperity Developments has been given the green light to transform a former JD Sports unit into 59 new apartments in Birkenhead Town Centre.
The Birmingham-based property developer and investor have received planning permission to regenerate the former JD Sports building on Grange Road.
Joe Billingham, founder and CEO of Prosperity Developments, said: “We’re delighted to have received planning permission for what is an exciting residential project in the heart of Birkenhead. The area is set for £1 billion worth of investment, which promises to attract employers and create new jobs. This development will provide much-needed homes for local owner-occupiers, as well as offering an opportunity for buy-to-let investors keen to be part of Birkenhead’s transformation.”
The development will see the conversion of vacant office space on the second and third floors of the building into one and two-bedroom apartments.
Both Prosperity Developments and Gape Equity form part of the Nottingham-based ALB Investments which acquired the 117,000 sq ft site from Columbia Threadneedle in a £1.5 million deal earlier this year.
The joint venture partnership of ALB will commence work on the office-to-residential project early next year, with completion targeting year-end 2021.
Mr Billingham added: “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. We’re looking forward to starting work on this high-spec project early next year.”