Residential People has learned today that work has completed on a new 24 apartment residential development in Peterborough.
Joint venture partners Prosperity Wealth and Bowlhead Properties said that the conversion of Orton Square, a former industrial/business unit that was the home of independent financial advisers, Ringrose Grimsley, was now complete.
Orton Square has proven to be immensely popular, and all 24 one- and two-bedroom apartments at the three-storey development were sold out before contractors had even started on site.
Marc Pearce (pictured) head of sales and marketing at Prosperity 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.”
The Orton Square is located at Orton Southgate, which is within three miles of Peterborough city centre at the junction of the A1 and Fletton Parkway.
The stylish new development is the latest to be completed by Prosperity Wealth and contractors, The Brightfield Group, having delivered other successful schemes at Orton Plaza, Varity House, The Pinnacle, New Priestgate House and Town Gate.
The Prosperity Group has a vast and lucrative residential and commercial portfolio with a gross development value exceeding £400m.
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.”
Featured Image: The completed Orton Square development in Peterborough