Flats on Waterfront being snapped up - more than a year before completion
Nearly two thirds of apartments being created out of a deserted office block in Brierley Hill have already been sold off – more than a year before they will be ready.
Seven Capital claims local interest has spurred on the sales of 115 out of the 181 flats being built at the former Point North at the Waterfront.
The firm's marketing boss Andy Foot said he now believed the remaining 66 apartments will be sold off within a month.
It comes as a separate £500,000 project to regenerate business area of the Waterfront is finally off the ground after the first firm moved its headquarters to the site.
Commercial Express has moved its Dudley-based HQ to the site following a year-long expansion of the firm.
The seven-level Point North had been empty for five years after insurance firm Egg moved out and has since been re-branded The Landmark.
Mr Foot said: "The sales of the apartments have exceeding our expectations. We have found a strong local interest from people wanting to live in the flats, especially following our open day last month.
"People and investors want high quality flats in a desirable area, it also perhaps highlights a lack of available housing nearby.
"The way things are going we are expecting to have sold off the apartments by next month."
Out of the buyers, Mr Foot said there was a mix of investors who will rent out the properties and people buying the flats to live in.
He said there will be 80 apartments facing the waterway, but only a handful remain.
Out of the six penthouse apartments, two remain. Overall, the apartment block will consist of a mix of one-bed, two-bed and penthouse flats, ranging from £69,000 to £125,000.
Work to create the homes is being carried out by Colmore Tang.
It is expected to be completed by next November.
The transformation of the office block has been welcomed by the Black Country Consortium.
Philip Calcutt, from the the consortium, said: "The Black Country Consortium is supportive of any investment in the area.
"What they are doing is turning a high profile landmark building, that is currently empty, into apartments.
"It is a move that will bring the building back to life and that has got to be a positive thing." Dudley Council has been working with property owners at The Waterfront to encourage new business into the 200,000 sq ft of space available there and has set up the Dudley Business Investment Zone.
Commercial Express is the first to take advantage of a two-year business rate break as part of an investment zone launched six months ago.
It is hoped the investment zone scheme could lead to the creation of 1,600 jobs.
Regeneration cabinet member Councillor Judy Foster said:"We are delighted to welcome Commercial Express to The Waterfront under our innovative Business Investment Zone Scheme. Commercial Express is one of many businesses that are thriving here in Dudley and schemes such as this one are giving companies even more incentive to grow or relocate in our borough."
Managing director at Commercial Express, Duncan Pritchard, said: "The company has seen considerable growth over the last year and we are expecting to see further increases over the coming months and years.
"The Dudley Business Investment Zone scheme has given us the opportunity to move to bigger premises, invest in growth and take on new people here in Dudley borough."
The council's cabinet approved the Dudley Business Investment Zone scheme in February this year.
The cost of the business rate incentive is shared by the council and participating property owners in the area.
As part of the scheme, firms also receive advice on specialist business support services as well as recruitment, training and support to identify funding. Businesses interested in the Dudley Business Investment Zone can call 01384 812001 or email info@dudleybusinessfirst.org.uk
