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
![Integritas](https://lbndaily.co.uk/wp-content/uploads/2024/02/External-1-e1709135949365.png)
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.
![Integritas](https://lbndaily.co.uk/wp-content/uploads/2024/02/Internal-2-e1709136017124.jpg)
“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.