Park House in Leamington Spa was previously used as a Patient Advice and Liaison Service.

Space GK, the new owners of the property, will now refurbish and divide the property into eight luxury apartments consisting of a mix of one- and two-bedroom duplexes.

The property is located in an area popular with young professionals and is close to the train station, something that appealed to Gary Kedgley, director at Space GK.

“Leamington is a thriving town which is growing both in terms of employment and the economy, and also home to a large population of young professionals – including one of the region’s biggest employers Jaguar Land Rover – placing it in an ideal geographic location.

“Taking this and Space GK’s philosophy (the creation of exceptional space) into account, we decided the opportunity that promised the most potential was to redevelop Park House into a series of unique apartments that would appeal to executives and professionals.”

Space GK has recently relocated from Stamford, Lincolnshire, to Warwickshire, and Gary has been impressed by the property market in the region.

“Although Space GK has redeveloped property in the past, this will be one of the first properties we’ve refurbished in the area, and so far we have been really impressed by the opportunities available and popularity of the market.

“As I’m still relatively new to the area, Shortland Penn + Moore (SP+M) were a great help – working with me throughout the process to liaise with the NHS and help to facilitate the purchase.”

SP+M marketed the property and James Compton of the group said Park House is the fourth former NHS property it has marketed recently.

He believes the trend is set to continue as it looks to release funds from the sale of smaller properties that are surplus to requirements.

“As this trend continues, we are delighted to be helping buyers purchase and redevelop properties across the region for a number of commercial and residential purposes – which can be a major boost for housing and economy in the area.

“Given the affluent and growing economy of Leamington Spa, it was no surprise that Park House was snapped up quickly.

“Opportunities for residential developments within the town centre are rare, so the property presented an exciting prospect.”