Build-to-rent project on its way for Dorchester
Former offices at Vespasian House is being converted into 37 apartments
Dorchester will soon get its first build-to-rent scheme, as a former office building at the top o' town is converted.
37 apartments, with space for up to 144 people, are to be created with Vespasian House by RTI Estates, at a cost of £11 million.
It's all part of an ongoing regeneration of the Barrack Quarter of Dorchester.
Chief executive of RTI Estates, Malcolm Curtis said:
“Vespasian House is a key, brownfield site in a highly sustainable location in Dorchester town centre.
“We have been advised by the NHS that they are looking at alternative arrangements to co-locate with local partners.
“With their departure, we have looked at how we can repurpose the building in a positive way for the community and local economy as part of our wider ongoing regeneration of the Barrack Quarter.
“We are exploring the possibility of delivering rental homes, with flexible leases from six months up to five years that provide families not only high quality modern sustainable homes but also provide flexible and secure tenures not normally associated with the rental sector.
“We believe that with demand for rental properties being so high, this would be an ideal, long-term sustainable repurposing of Vespasian House.
“Being so close to the nearby hospital, transport links and all the town centre amenities, it would further support the revitalisation of Dorchester town centre and make a valuable contribution to the chronic under supply of rental homes in the county town.”
Build-to-rent homes are not sold to owner-occupiers or lettings landlords, but are owned and managed by the developer or operator.