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Economic Development

Investors eye up £10m Plymouth city centre apartment block

Work only began on seven-storey Peirson House in 2018 but it is scheduled for completion in early 2020

Inside the first apartment fitted out at £10m Peirson House

Investors are showing interest in a £10million apartment block being built in Plymouth city centre – months before it completion.

Work only started on the seven-storey Peirson House development, in Notte Street, in 2018 but it is progressing so quickly it is expected to be ready by early 2020.

The topping out ceremony took place in May 2019 and Rod Short, director of Plymouth-headquartered Moor Manage, said: “We are on programme, planned to complete in early 2020. We are flying through this.”

Moor Manage is masterminding the construction for developer Devcor, on plans drawn by the city’s Burke Rickhards architecture practice.

What Peirson House will look like when built

James Burke, of Burke Rickhards, said: “It’s on target for early 2020, this is exciting and adds a bit a class to the road.”

The sales team is now in situ at a completed first floor show flat and said there is mounting interest in Peirson House’s 76 apartments.

And that is as the apartments are being marketed off-plan before completion, targeting a range of potential buyers including young professionals and couples, down-sizers, and investors looking to secure buy-to-let investment or even rent rooms out as serviced accommodation.

it is expected that while many of the one- and two-bed apartments are being eyed by people who want to move into Peirson House, there is also potential interest from investors who may want to buy-to-let serviced apartments for business professionals and others visiting the city.