Landmark building to get £1 million revamp

A landmark Plymouth apartment building is to undergo a £1 million revamp following a buy-out by luxury property developer Burrington Estates, creating a new residential haven in the Town centre.

In a £9 million deal, the developer has acquired the nine-storey Zero 4 tower in the city centre, renaming it Ocean Crescent, and plans a complete transformation. Work is already underway and will involve an upgrade to the exterior, plus a complete refresh and modernisation of the interior communal areas. There are 98 remaining appartments, which will be released to the market in phases.

Each apartment will be sold following a full reburbishment and be offered with the option full furniture packs and deposit assistance ideally suited to first time buyers. The development includes four stunning luxury duplex penthouses, which boast city and Ocean views.

The building, which is located opposite the Pavilions and close to the Millbay regneration area, also benefits from 9,000 sq ft of space on the ground floor. Burrington Estates is in discussions with various synergistic prospective tenants fom the leisure and retail sectors including gym and business centre operators.

“This was an amazing opportunity to purchase one of Plymouth’s most impressive residential buildings and give it a new lease of life,” says Mark Edworthy, Managing Director of Burrington Estates.

“We are committed to turning around the fortune of this building and existing residents have been very receptive to the comprehensive range of improvements we are making – once complete, it will feel like a totally new building.

“The city is on an upward swing in terms of investment and growth, and Burrington Estates is proud to be part of the renaissance of vibrant urban spaces.”

Burrington Estates is currently developing a £75 million property portfolio in the South West, with other Plymouth-based projects including the sensitive redevelopment of Stowford Mill in Ivybridge and Burrington Business Park – a new business park that will be the home to Thrive, an innovative new working hub.

The renovation work will be managed by Plymouth-based Expedite Project Services, who estimate that the apartments – available for rental and sale – will be ready for market by mid-May. Prices start at £79,950, and there is a range of studio, one bed, two bed and penthouse apartments, many of which benefit from an underground parking space. All appartments benefit from modern fitted kitchens and bathrooms.

“We are deeply encouraged by the high levels of interest already shown in Ocean Crescent and look forward to officially launching the show apartments on Thursday 15 May,” adds Mark.

Three show apartments will be available to view during an Open Event on Thursday 15 May, and private viewings can be booked through residential agent Atwell Martin and lettings agency Property Links.

For more information about Ocean Crescent, visit www.oceancrescent.co.uk

Sales contact: Atwell Martin, 01752 202121, www.atwellmartin.co.uk

Lettings contact: Property Links, 01752 252502, www.propertylinks.biz