Developer Integritas Property Group completes £3.7m conversion of former Merseyside office building close to the Port of Liverpool into apartments complex. Tony McDonough reports
A new £3.7m Merseyside apartments complex is ready for its first occupiers following Integritas Property Group’s office-to-residential conversion.
Integritas paid £1m for the former office building in Crosby Road North, Waterloo. Renaming it Copper Box the developer has now unveiled 27 new apartments across six floors.
Copper Box, which is just a few minutes’ walk from Waterloo station and is close to the Port of Liverpool says it is estimated a net initial yield for investors of 6.5%.
Integritas chief executive Mitchell Walsh said: “It’s great to see the competition of a development such as Copper Box. It is already a great talking point in the community.
“We’re really proud of how it’s turned out and look forward to hearing how the new tenants are enjoying their new home.
“Despite facing some difficult economic conditions, the buy-to-let market in the UK has remained resilient. As a result, it has become a highly sought-after investment destination, promising reasonable returns.
“Copper Box sold out of all units over a year ago, and now, at completion, an exterior sign has been fitted, and the first tenants are moving in.
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“Curlett Jones Estates, an estate agent based in Southport, is handling all of the lettings, with a number of apartments already snapped up by renters, with more tenants moving in soon.”
In September 2023 Integritas secured a £5m development loan to complete the first phase of development at its residential development at Bastion Point in Liverpool. The funding, from StreamBank, has been brokered by GapBridge Capital.