Urban Village Group (UVG) has received planning permission for the proposed conversion of a Milton Keynes office block into a BTR scheme.
UVG received detailed planning consent for the conversion of the former AGF House, at Avebury Boulevard, into 237 apartments over six floors, in addition to amenities such as a residents’ gym, cinema a communal entertainment facility and work spaces.
Nick Sellman, CEO of UVG, said: “We are grateful to Milton Keynes Council for its support and excited at the prospect of delivering this exceptional development. Demand for homes in the private rented sector continues to grow and our Westminster House development will help to address the increasing requirement in the Milton Keynes region. We are transforming an empty and unloved office building into a place people will really enjoy coming home to, with all the shopping and leisure facilities right on their doorstep.
“Currently, there are 4.5 million households in England now renting, representing 20% of the market, which has increased from 10% in 2001. In the next 15 to 20 years, more people are expected to rent rather than own their own homes. As the national housing shortage continues, with an average 200,000 homes built each year against a government target of 300,000, there is significant scope for major growth in the build to rent sector.”
Construction of the BTR scheme is expected to start in the first half of next year.
