Developer Orwell Real Estate has lodged plans for a £140m build-to-rent development at Basildon’s Market Square.
Proposals for the mixed-use scheme comprise 492 flats in three blocks of 9 to 17 storeys, with flexible commercial floorspace on the ground and first floor.
The 1.8-acre town centre site is currently occupied by a 1960s four-storey building with a Wetherspoon’s pub among various retailers and offices above.
It is 140m north of Basildon train station in the heart of South Essex.
The development, designed by SWAP Architects, proposes a mix of one- and two-bedroom flats and will be the first new-build flats of this scale in Basildon.
They will be managed by Mainstay, which currently has 2,500 BTR homes under management and a further 3,000 in the pipeline.
The proposals are the latest in a trend of BTR developments taking off in commuter regions outside of London, with similar activity around Watford, Hertfordshire, Kingston, Surrey, and key hubs with strong transport links.
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
Image © Swap architects for Orwell Real Estate
