EG on The Move, the petrol forecourt and convenience retailer, has acquired a 0.6 acre site at Trent Bridge from a private pension fund.
The site, which many years ago was The Globe Pub and a petrol station, had been intended for a nine storey residential apartment development for which planning had been granted.
David Hargreaves of FHP, which acted on behalf of EG on The Move, said: “We are aware of how difficult it is these days to “stack up” new build residential development following the significant increases in build costs and compliance costs and so when our client said they wanted a site near West Bridgford a bit of lateral thinking brought us to this site.
“We contacted the Representative for the Pension Fund and negotiated a purchase subject to Planning for a change of use which was recently secured.”
Building works will start in the New Year bringing fuel, EV charging and a convenience store with branded food outlets to the busy gateway site at Trent Bridge.
Hargreaves said: “This is a good example of the need to be lateral in your thinking in terms of the potential use of a site. The Economy is weak and the Property market is tough and more than ever those agents that are in touch with current market trends and who can think outside the box will lead.”
Matt Lawrence of EG on the Move said: “Our Development at Trent Bridge demonstrates how collaboration and innovative thinking can unlock new opportunities and deliver practical solutions in a challenging economic environment.
“I’d like to thank everyone involved in the acquisition and we look forward to seeing the positive impact our development will have on the local community.”
Zac Clayton of Freeths acted on the legal side with FHP introducing the site and negotiating the acquisition whilst Rebecca Toates of Browne Jacobson acted for the pension fund on the sale.
