181 luxury flats for Brierley Hill Waterfront

The Landmark, formerly Point North, at the Waterfront canalside complex in Brierley Hill had laid vacant for five years - but in under a year it could have up to 300 people living inside.

Developer Seven Capital today revealed the seven storey office block will consist of 136 one-bed flats, 37 two-beds and eight studios including six luxury rooftop penthouse apartments.

The total resale value of the properties will be more than £20million, with prices starting at £83,000 for a one-bed apartment. Already, 37 properties have been snapped up by investors.

Managing director Phil Carlin said he was excited by the prospect and hoped the work would 'provide the building with a new lease of life'.

Work on the transformation will begin in three weeks, with targeted completion of the entire project by August next year.

Mr Carlin said the firm was excited about the project: "Our plan is turn the former office block into the premier residential development of the Black Country.

"We had been looking at the site for some time, and when the opportunity arose we went for it."

And he added: "The building is perfect for residential apartments, with many affording features such as balconies with wide views over the area.

"The setting is fantastic too. You have a canal passing by with shops nearby and great transport links.

"I'm sure it will provide a great home for many people wanting to be in the area."

Seven Capital purchased the office block, formerly used by insurance firm Egg, not long after West Bromwich Building Society pulled out on taking over the 141,000 sq ft site last year.

Earlier this year the firm secured planning permission for the development from Dudley Council.

Mr Carlin added: "It's a fantastic opportunity for anyone because as a new build, these apartments would be going for a lot more.

"However, as the building is up already and we have managed to get the place at a good price we are able to sell at an affordable price while not sacrificing the high quality we'll provide."

And he said:"This is an exciting time. I look forward to standing outside the front a year from now and welcoming people into the building. It will change the scene down here and hopefully lead to more businesses coming to the area."

Fifteen years ago The Waterfront, was a thriving business centre which offered a bustling night life. Today many of the waterfront bars and restaurants are closed.

The Waterfront district has 650,000 sq ft of office accommodation, but about 200,00 sq ft is currently vacant.

It is hoped the residential development along with a recently launched Dudley Business Investment Zone offering a two-year break in rates for new businesses could revive the complex.

It was revealed last month that four firms have inquired about re-locating to be part of the new investment zone which it is hoped will bring 1,600 jobs to the region as well as fill up empty business space.

Those companies already based at the site and looking to expand will also be able to get a discount.

About 40 businesses are now located in the district, including JD Weatherspoon Plc, Virgin Media and West Midlands Ambulance Service.

Under new planning law put down by the council, further residential development will be discouraged as officers attempt to maintain the area's business core.

The Landmark will have a courtyard which will be turned into a grass area for residents. There will be eight garden apartments with their own fenced patio. The prices range from £69,000 for studios to £125,000 for the penthouse apartments.

Parking will be provided around the residential block.

The Waterfront was built on the site of the former Round Oak steelworks in the late 80s and early 90s.