Weston Homes PLC paid £85 million to acquire the Watford Laundry Factory in the U.K., City A.M. reported.

The real estate developer aims to transform the site into a residential project that will offer 227 homes and a commercial facility. The development will feature 162,000 square feet of new homes for private sale and 15,000 square feet of affordable housing.

The company has already commenced preliminary works on the site and aims to start a two-year construction program in autumn.