Inspired Homes and Equinox Living have completed the purchase of Maxet House in Luton. The former office building on Liverpool Road in Luton will be converted into 59 micro-apartments under Permitted Development Rights with a planning application being submitted to provide a further seven larger new-build homes on top of the existing building.
The development, which has a GDV in excess of £13m, is in a premier location on a quiet street near Luton’s town centre triangle just six minutes’ walk from Luton train station.
The apartments will feature a high specification including engineered hardwood flooring; Arta Cucine Italian soft-close kitchen units with quartz worktops and integrated Bosch appliances; designer bathrooms with porcelain floor and wall tiles; and 1GB Hyperoptic broadband, the UK’s fastest.
Since its train station opened in the 1800s, Luton has become a hub for industries wanting to stay connected to the capital and now the whole of Europe through its fast, 24-minute train service into St Pancras International.
£1.5bn in urban regeneration is planned with a comprehensive progamme for new commercial, leisure and housing opportunities. Current plans include a new Hat District transforming old hat factories into inspiring workspaces for creative and digital industries; a new civic, leisure and creative hub at St George’s Square; and a £200m redevelopment of Luton Airport Parkway station that will connect the airport terminal to London.
Martin Skinner, CEO of Inspired Asset Management and Inspired Homes, said: “Luton is now a property hotspot that ticks a lot of boxes for both first-time buyers and buy to let investors with its fast rail links to central London, exciting regeneration plans, and strong rental demand.”
Commenting, Darius Ziatabari, Director and Co-Founder of Equinox Living, said: “Our specification will be one of the best in Luton and priced competitively. The development sits on a quiet road a short walk from the train station and St George’s Square, Luton’s central plaza where you have the Mall, Galaxy cinema complex and a vibrant street market. Luton is on the up and has become an exciting place for young people to buy their first home.”
Prices start from £160,000 and will benefit from Help to Buy available 8 months prior to practical completion. There will also be no Stamp Duty to pay for first-time buyers.