Peterborough City Council has received a planning application of the proposed change of use from offices to 12 residential studios and apartments.
There are currently 20 allocated car parking spaces on site, and plans show 18 would be reserved for those who live in the new properties.
In the application, PL Bison LTD said: "The buildings form part of a large development and therefore there is limited opportunity to change the site and building arrangement. However, it is an efficient and effective site layout, so works well with the proposed conversion.
"The two car parking spaces (which are not required to meet parking standards) are utilised to provide a cycle & bin store enclosure. This is positioned away from the building on car parking spaces which are adjacent to the landscaped buffer to the west. This positioning ensures that the new structure is away from the windows of the new residential units, while being ‘softened’ by the backdrop of the landscape.
"In terms of the external appearance of the building, this will remain largely as per the existing. Units two and three will benefit from a general decoration upgrade as part of the conversion works, which will enhance the external appearance.
"With regards to the internal layout, the existing building converts well to residential apartments.
"The proposed layout has a good balance of units with four studios, five one-bed apartments and three two-bed apartments."
Plans for the new homes are yet to be approved by Peterborough City Council.