DEVELOPERS set to transform a derelict finance office into 181 luxury apartments at Brierley Hill's Waterfront complex say 30 per cent of the development has already been sold to investors before the scheme has even been launched.

Seven Capital aims to turn the seven-storey former Egg headquarters known as Point North into"the premier residential development of the Black Country" and is set to launch the plush £400million apartments scheme next Tuesday (September 23) .

The official launch party for interested investors will take place between 4.30pm and 7.30pm at the iconic canal-side building, which has been rebranded as The Landmark and which will be turned into a mix of swanky one and two-bedroom apartments and penthouses.

Open weekends will also be held on Saturday September 20 and Sunday September 21 and Saturday September 27 and Sunday September 21.

A spokesman for Seven Capital said: "There has been much interest from the local community who have expressed their interest to either purchase or rent in the development and we want to embrace this as much as possible.

"We are offering a ten per cent discount for the first ten sales by way of a thank you for the amount of interest and good wishes we have received locally."

Developers say the scheme, which will create work for around 100 people through the various stages, will boost the Brierley Hill economy and create much-needed residential space in the area.

Seven Capital director Andy Foote added: "We are very pleased to be able contribute to the important upward recovery around Merry Hill and the Waterfront and also about providing beautiful new homes for people to live in. It really is a wonderful setting and all who visit the development are inspired by its position and views.”

Work to transform the office building, which has already been completely stripped out, will get underway in earnest next month and the project is expected to be complete by December 2015.