Developer Crossfield Exclusive is set to hand over a residential conversion of Birchen House in Birkenhead, a scheme it bought last year after its previous owner entered administration.
Two-thirds of the 67 one and two-bed apartments in the building have been sold ahead of completion, with the scheme due to hand over in the coming weeks.
Crossfield Exclusive, a joint venture between Crossfield Group and Exclusive Investments, bought Birchen House in September last year for £2.1m; the residential conversion has a gross development value of £5.2m.
Prior to Crossfield’s purchase, the building on Canning Street was formerly used as an office for HMRC before undergoing a residential conversion. Part of the original grade two-listed Pier Hotel, which forms a portion of the building, is also being restored.
The scheme’s previous developer, Birchen House Limited, was headed up by director Paul Burgess but entered administration last summer, leading the building to be put up for sale the following January.
Funding for the acquisition was brokered by Watts Commercial, while Vincents Solicitors acted for Crossfield and Exclusive Investments.
David Ayem, director at Exclusive Investments, said: “The transformation of this building is truly remarkable and we are grateful to our construction partners at Crossfield Group for delivering such a high-quality refurbishment.
“Many of the apartments have already been purchased off-plan ahead of completion and we are looking forward to showcasing the development to the wider market now that all works are complete, and the apartments are ready to occupy.
“The response from potential buyers, investors and our neighbours has been extremely positive and we are confident this will become a popular residence and a positive addition to the local community in the heart of Birkenhead.”