Aberdeen Asset Management has completed the purchase of the five acre former Bath Press site in central Bath for its residential opportunity fund from Meyer Homes.

The purchase paves the way for Aberdeen’s £100m scheme of 244 apartments and houses, 16,000 square feet of flexible business space accommodation and 204 car parking spaces to begin.

The development will retain some of the most iconic elements of the building such as the main historic façade and the chimney which has been widely welcomed by local residents and will provide the scheme with a unique sense of history, identity and presence.

Jonathan Meier, Director at Sculpture Real Estate, the Development Manager, said: “With the backing of Aberdeen we will be re-developing this significant historic site that has stood derelict for over 10 years. The history of the site and the City will come through in the quality of the finished product and will further regenerate this area of Bath.”

Demolition of the existing buildings is expected to start imminently with construction expected to start early in 2018.