Conygar Investment Company is looking to take the next step in its regeneration plans for Boots Island in Nottingham with the formal granting of permission through the signing of a Section 106 agreement between the company and Nottingham City Council.
It is hoped that this agreement will be signed in the coming weeks, which will enable the start of infrastructure works and the first phase of the development.
In April 2019, a resolution to grant planning permission was passed for the 37 acre mixed use scheme in the City Centre. The phased mixed use scheme will consist of offices, student housing, private residential and build to rent flats, a hotel and an associated food and beverage offering and, Conygar has revealed, potentially, an entertainment and leisure venue, which could have various uses.
In a statement on London Stock Exchange Conygar said: “We are encouraged by the discussions we have had with potential occupants for all aspects of the scheme following the resolution to grant the planning permission and we are working with the Council to agree our section 106 obligations as quickly as possible. This will enable us to proceed with the first phase of this exciting development.”
Conygar acquired the site for £13.5m in December 2016 which sits in an area that has been largely unused for over twenty-five years. The site was formerly the headquarters and laboratories of Boots, the chemists.