New plans to heighten a £2.8 million Peterborough office block for apartments conversion

The venture involves building an extra two storeys to Monkstone House in City Road, which was sold to the developer in February after going on the market with a £2.8 million price tag.

It will take the current four storey building up to six storeys and allow for the creation of a total of 65 apartments.

The plans have been submitted to Peterborough City Council by MJS Construction (March).

The developer says the two new storeys will allow for the creation of 22 self-contained apartments made up of 20 two-bedroom and two one- bedroom apartments.

The remaining 43 units will be created from the existing four storeys.

A planning statement from TMV Architects says: “The scheme makes effective use of previously developed land and represents an appropriate form of intensification, making a positive contribution to the delivery of housing without altering the established building footprint or access arrangements.

It adds: “The proposed development will introduce 65 residential apartments through the upward extension and conversion of the existing building.

"Six storeys is not considered excessive within the context of the surrounding built environment.”

MJS Construction is the company behind the redevelopment of Guild House in Oundle Road and the ongoing redevelopment of Whitworth Mill at Fletton Quays. It has also just purchased the former TK Maxx store in Bridge Street, Peterborough.

The sale of Monkstone House was heralded as one one of the largest office freehold deals in Peterborough by commercial agents BTG Eddisons.

Julian Welch, director at BTG Eddisons, said the sale was the biggest office space freehold deal in Peterborough in recent times and came during a ‘far from buoyant’ market backdrop.

that has characterised the office market in the region for the past six years.