MCR Property Group has acquired The Moneycentre office building in Plymouth for an undisclosed price.
The company intends to transform the building into 105 one- and two-bedroom rental apartments as part of a £24m redevelopment of the site.
Located on Drake Circus, the building was constructed in 1976 as offices above ground floor commercial space. The redevelopment is due to commence in late 2025 with completion targeted for 2026.
Michael Fenlon, residential director at MCR Property Group, said: “Plymouth is a dynamic city with big ambitions, and we’re thrilled to be part of its future. There’s a real need for high quality rental homes in the city centre, and this scheme will help address that, while bringing a landmark building back into use. It’s about more than just delivering apartments; it’s about creating a place that feels connected to Plymouth’s identity and energy.”
