The flats, on the corner of Market Place and Rose Street, are a conversion of former offices and part of the long-awaited plans to regenerate the town. Guide prices for the two or three-bedroom flats range from £285,000 to £330,000.

The total sale price is likely to be £2,180,000 – which could realise a profit in the region of £500,000 for Wokingham Borough Council.

The offices were converted as part of the Peach Place corner refurbishment plans which saw the building’s facade completely overhauled and 37 Market Place restored. The work cost a total of £1.675million.

Cllr Philip Mirfin, executive member for regeneration and communities, said: “Seeing the buildings change over the last year to create a much improved setting for the town centre has been really exciting.

“The job that’s been done is fantastic and to a high quality. The attention to detail really sets the benchmark for future phases of the project at Peach Place and Elms Field.” It was announced this week that the first phase of the town’s redevelopment was completed on time and within budget. Work began in July 2013. Income from the sale of the flats will be used to offset the costs of the building work and could potentially be used to fund future council projects.

Describing the project as a ‘technically challenging’, as shops below continued to trade while building work above took place, Cllr Mirfin said: “We’ve been constructing something completely new on top of what is essentially a 1960s building, while the retailers continue to trade. Work has gone well. Our contractors Dawnus were also presented with a certificate of excellence from the Considerate Contractors Scheme to show how far they had gone over and above what was expected of them as part of this scheme.” The council spent £10million buying the entire area set to be redeveloped as part of Wokingham’s £95million regeneration and work is expected to continue into 2018.

Plans for the further redevelopment of Peach Place and Elms Field were binned in December 2013 and new designs will be submitted either by the end of 2014 or early next year.