Inspired Asset Management has received planning approval for its comprehensive redevelopment scheme in Crawley, Sussex.

The vacant three-storey former office building was acquired in September 2015 and will be redeveloped into a 7-storey, 60,000 sq ft residential building featuring a total of 78 units comprising of 10 studio, 55 one-bed and 13 two-bed apartments. The ground floor will remain as a large retail unit, which can be divided into smaller units, but will also accommodate a resident's entrance lobby and cycle store.

Martin Skinner, CEO of Inspired Asset Management, said: "15-29 The Broadway is an attractive proposition, not just for first time buyers looking to take that first step on the property ladder, but also for investors looking to invest in commuter London's affordable private housing market.

"We have a strong track record in delivering returns for investors both large and small, whether they are looking to invest in single apartments or in an entire development. Our new Crawley development is an ideal opportunity for investors and owner occupiers to secure high quality, affordable residential units in a strong commuter town and to participate in the enviable record of capital growth that Inspired Asset Management has demonstrated throughout its portfolio."

All the apartments will have their own private balcony or terrace and the redeveloped building will also include a large, south facing, privates communal terrace on the 5th floor for residents, providing a social space for people to meet and interact.

The building is in an area of Crawley identified as a 'key opportunity' area and it is hoped the redevelopment of 15-29 The Broadway - which is expected to take 18 months to complete - will act as a catalyst for future regeneration in the local area.

The site is located within the precinct district at the heart of Crawley town centre, less than 5 minutes walk from both the train and bus stations.