Custodian REIT, the UK property investment company, has sold a car showroom in Derby. The company has sold a 24,178 sq ft car showroom let to Volkswagen for £5.6 million, £1.2 million (26%) ahead of the 31 March 2022 valuation, representing a net initial yield of 5.7%. Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the company’s external fund manager), said: “This asset has provided a healthy level of income over our five years of ownership and is being sold to a ‘special purchaser’ at a significant profit. “We have a strong pipeline of assets on which to redeploy the proceeds of this sale with better rental growth and asset management prospects.”

A Derby primary school destroyed by fire in October 2020 reopens today following a £6.9m rebuild. Pupils at Ravensdale Infant and Nursery School in Mickleover return to their new classrooms on Thursday 9 June, after a purpose-built replacement school was delivered on time and to budget. The new, single storey building was designed by Lungfish Architects to be built with 58 modular units constructed off-site. The whole school arrived on site on lorries where it was assembled to deliver a high-quality modern school building. The new building, which sits over the previous school footprint, has been reconfigured to provide efficient teaching and play space for 270 pupils, and a 26-place nursery, for children aged 3 to 7. Derby City Council appointed Morgan Sindall Construction to build the three-form-entry school. Work began in July 2021 and the construction was completed in just 45 weeks, allowing pupils to return to their building as soon as possible. It also meant minimal disruption to the neighbouring Junior school, which shares site and access routes and utilities with the infant school. The fire caused “extensive damage” and saw 12 fire engines and two aerial ladder platforms from across Derbyshire sent to the scene. It caused a huge loss, with everything in the infant school either being burnt or damaged by smoke and water. The new school also has sprinklers. Derby City Council signed a statement of intent to fit sprinklers and fire safety measures in new-build schools and primary and secondary schools undergoing significant renovation, refurbishment, or extension for projects undertaken by the Council. Councillor Evonne Williams, cabinet member for children, young people & skills at Derby City Council, said: “This is a joyous milestone for all staff and pupils at the school and I am pleased to see the school rebuilt to the highest standards, on budget and on time. “This has been possible because of excellent partnership working between Ravensdale School staff, the governing body, and school leadership team, Morgan Sindall Construction, Lungfish Architects and the Council. “It was deeply upsetting to see the destruction caused by the fire, but these fantastic facilities will help pupils make the most of the first stages of their learning journey. “Losing a school has an enormous community impact, and my thanks go to the schools who offered space for Ravensdale children while the building work was ongoing.” Lorna Blanchenot, headteacher at Ravensdale Infant and Nursery School, added: “It’s amazing to finally be home and all back together with our staff, children and families all under one roof. Our new school is a fabulous, modern school and we are really excited and ready to make new memories together here. “I’d like to say a huge thank you to all of the Ravensdale Infant and Nursery School staff and community, to Derby City Council and to Morgan Sindall for everyone’s hard work over every single step of journey in getting us back home. “All the children are very excited to begin learning in their new school and the staff have already made it a magical place to learn in and to make our community feel safe, happy and able to reach their full potential.” Richard Fielding, area director at Morgan Sindall Construction, said: “Given the extensive destruction caused by the fire, speed to market was absolutely crucial to ensure minimal disruption to the pupils and the local community. Thanks to the SCAPE procurement method and the level of collaboration between the Ravensdale school staff, councils, Lungfish Architects, and our Morgan Sindall team, we were able to turn the project around in 45 weeks and we’re now delighted to hand over the brand-new facilities. “A huge thanks must also go to the neighbouring schools who kindly accommodated the Ravensdale pupils whilst building works were underway. This project really is a testament to what can be achieved when everyone comes together as a community.”

Developer Charterpoint has applied for outline planning permission to build up to 90 new homes on land in Louth. It is proposed that the new properties on the 12 acre site off Daisy Way would include a mix of two to four bedroom homes. The development would also feature a children’s play area, surface water attenuation ponds, wildflower meadows, sustainable drainage and an amenity lawn for communal informal recreation. Charterpoint has submitted outline plans for up to 90 homes and garages, plus associated highways, drainage and green infrastructure for the site to East Lindsey District Council. Adrian Goose, CEO of Charterpoint, said: “This site is in an excellent location, on the northern edge of Louth, and would provide attractive accommodation for individuals and families close to the town. “Charterpoint has extensive experience of delivering quality schemes and we are pleased to submit this application to create new homes close to all the services and amenities that Louth offers.” The site, which is bounded by the A16 Louth bypass to the north west and by Westfield Park to the south and east, would be accessed off Daisy Way. Charterpoint is proposing to include green infrastructure to provide an attractive quality environment for residents and visitors with consideration given to access for pedestrians and cyclists, enhancement of wildlife biodiversity, sustainable drainage solutions and promotion of use of outdoor spaces for improved mental and physical health and well-being. Charterpoint also plans to incorporate open water, swales and ditches as part of the sustainable drainage strategy to contribute to local biodiversity. The exact number and mix of new homes on the site, which is currently used as farmland, would be defined during detailed design stage. It will now be down to East Lindsey District Council to determine the application.

Nottinghamshire Police has completed the sale of its former police station on Rectory Road, West Bridgford to McCarthy Stone. In a deal brokered by Box Property and LHS, the old station will be transformed into a thriving retirement community. McCarthy Stone creates award-winning retirement properties for sale or for rent. It has already worked with Rushcliffe Borough Council to secure planning consent for a scheme on the site which will see the existing building demolished to make way for 86, one-and two-bedroom, Retirement Living apartments, with on-site support, car parking and professionally-landscaped gardens. The development will also include communal facilities such as a residents’ lounge, mobility scooter charging and storage room, guest suite and an internal refuse store, with lift access to all floors. Ben Tebbutt, director at Box Property, said: “There is a real shortage of independent living accommodation for older people in the local area. We’ve worked closely with McCarthy Stone over the last 12 months to get the deal over the line and we are excited to see the next phase of development.” Katie Fisher, divisional managing director at McCarthy Stone, said: “With the completion of the sale of the property, we will shortly commence construction and our Retirement Living development will significantly improve local housing choice for older people in West Bridgford. “The development will be ideal for residents in the area who wish to retain their independence, in their own home, while accessing a warm, fun, and caring community of friendly neighbours.” Robbie Farrell of Lambert Smith Hampton (LSH) acted on behalf of the Police, who have relocated officers from the former police training centre to a joint site on Loughborough Road with West Bridgford Fire Service.

Rayner Davies Architects have submitted a planning application for nine apartments on the site of the former Wishing Well Day Nursery in Nottingham. The scheme is conceived as a row of L-Shaped duplex units, mirrored along a central spine and book-ended with a different contextual response for each of its two primary frontages; one facing Oakfields Road and the other on Rutland Road. The proposals dispense with the typical ‘central core’ arrangement of conventional apartment blocks, instead providing access via raised and landscaped walkways. This layout both mitigates against flood risks and provides a more pleasant entry sequence. In addition to generous private terraces, there is a communal garden flanking the scheme to the West. Undercroft parking is provided, utilising the existing basement of the nursery with ample cycle storage and options for EV charging. High quality materials and contemporary detailing ground the scheme, providing texture and perforations to add compositional interest. Standing seam metal cladding with a subtle colouring is offset against the more neutral brick colouring and complimented by use of colour for the windows, doors and railings. Rushcliffe Borough Council will now consider the proposals and a decision is expected mid-summer.

Plans for student accommodation on land between Union Road and St Marks Street in Nottingham have been granted conditional permission. The proposed development, from Environment Design Consultants, consists of two buildings with a communal courtyard between and basement parking below the courtyard. 249 studios would be created as well as two commercial units. The development site currently comprises of former industrial buildings and open car parks. The plans follow an earlier phase of development, to provide a 5-storey block of student flats.