The future of the high street? LCP completes office-resi conversion in Oxford

8 July 2020 | Investment

The future of the high street? LCP completes office-resi conversion in Oxford

LCP, a national commercial property and investment company, has announced that the last apartment in a transformed office-residential conversion in Oxford has been sold. 

The firm converted the first floor of an office above three shops in Kingsway House, London Road, Headington, into one two-bedroom flat and one three-bedroom flat. The second floor, where there were two existing two-bedroom flats, was also refurbished ‘to a high specification’.

As part of LCP’s plans to provide good-quality housing where possible within its retail portfolios in key commuter areas, the company also renovated the office, formerly occupied by a firm of solicitors.

Each flat includes large balconies at the rear, with large windows to maximise light and space, well-equipped kitchens with integrated appliances and stylish bathrooms.

Rakesh Joshi, associate director (convenience parades) at LCP, said three of the flats were sold within weeks of the development being completed, while the fourth completed this week.

“We’re pleased that we’ve sold these flats to a variety of purchasers,” he said. “They will provide the owner investors with excellent properties to let with good potential yields, in addition to being a great place to live for the owner occupiers.”

He added: “Not only are these conveniently located, being close to Oxford Brookes University, John Radcliffe Hospital and all the shops and amenities of Headington, but they are also on bus links direct to Oxford city centre.”

“We’ve undertaken a number of similar conversions within our convenience parade portfolio over the past couple of years and we are committed to providing much-needed homes in areas of need,” he concluded.

The office-flats conversion was completed in just nine months by appointed contractor Summer Property Maintenance Ltd. Savills was appointed to market the flats.

This post has originally been featured in Property Investor Today.