Developers Peveril Securities and Sladen Estates, the team behind the landmark Unity Square scheme in Nottingham, have acquired a number of key buildings in the heart of the city’s Southside area.
The sites, which include Albion House in Greyfriar Gate, and Hanson House and Midland Scooter Centre in Collin Street, are set to play an important role in the ongoing redevelopment of this area.
Once developed, the sites could accommodate some 300,000 sq ft of prime office space with an end value of £150m, bringing much-needed employment space into this part of the city centre.
Managing director of Peveril Securities, Ralph Jones said: “We are delighted to complete this strategic purchase of these sites with Sladen Estates which, combined with our control of Ocean Nightclub, will allow us to play a major part in the redevelopment of this area, building upon our recent successes in Nottingham city centre with our 275,000 sq ft pre let at Unity Square to HMRC.
“The sites are suitable for a range of uses and could include a mix of office and residential space that will be complementary to the neighbouring uses currently under development. Despite the current challenges facing the country, we have been encouraged by Nottingham’s resilience and believe the site is ideally placed to continue the growth the city had been experiencing prior to COVID-19.”
Discussions are already underway with Nottingham City Council to determine a suitable use for the site, with consideration also given to any future plans for the redevelopment of intu Broadmarsh following its transfer to council control in recent weeks.
Nick Sladen added: “Sladen and Peveril have an intimate knowledge of the local market and national development and contracting expertise so we jointly have the scale, expertise and resources to make the most of the opportunity that our latest purchase presents.”
The announcement comes immediately after the partnership announced the acquisition of 34 acres of development land in Bicester, Oxfordshire to develop a £350m office park.