Sunday, May 9, 2021

Nottingham river fronted development site sold

Acting on behalf of Gilbert & Hall, the luxury family house builders, David Hargreaves of FHP Property Consultants has completed the sale of a prime site at Riverside Way next to the Wilford Toll Bridge overlooking the River Trent.

Paul Tewson and Chris Hall of Gilbert & Hall had worked with Steve Rayner of Rayner Davies to secure Planning Consent for the redevelopment of the old industrial units and have secured planning consent for a 42 unit – 30,000 sq ft – apartment scheme including 24 Duplex Apartments.

Paul Tewson said: “We work really well with FHP Living and FHP and had instructed them back in February last year, but when the magnitude of the Pandemic started to be realised, David advised us to put the launch on hold until market sentiment improved, which we did.

“However, in November David had an enquiry from Unitech Plus, to whom he had sold 3 other sites, looking for a further site to buy and within 2 weeks he had agreed terms for the sale of the site at circa £40,000 per unit in an off market transaction at our target price.”

Hargreaves said: “Gilbert & Hall are great to deal with as they are so organised, with all the documents ready for a speedy transaction, with solicitors instructed on the 11th November and the sale completed early February 2021, which given Christmas, New Year and a national lockdown was impressive stuff.”

Ehsan Sabet of Unitech Plus said:  “David Hargreaves and FHP are straight forward people and easy to deal with – they do not over-complicate matters and we trust them. They always have some great sites and we have bought sites in Beeston, Bramcote and now Riverside Way from them. This is a stunning site and we are really looking forward to getting on site and delivering these beautiful apartments on the River.”

Chris Hall of Gilbert & Hall said: “Although as a company we have built apartments in the past, including the very successful Anglo Scotian Mills site in Beeston, we are now more focused on the top end luxury family homes market with our recent schemes in Bramcote and Beeston and our current scheme of 6 large 5 bed homes in Wysall where we have recently started on site and which will be launched shortly. We are delighted with the outcome and as always FHP and FHP Living delivered.”

David Hargreaves said: “When the design and location is as good as this and with planning in place and ready to go, finding a buyer when you are specialists in this market is relatively straight forward and so much credit should go to Rayner Davies and Gilbert & Hall as well as the Lawyers, for the speed of the transaction under trying circumstances.”

Antony Fyson of Rotheras acted for Gilbert & Hall on the sale and Miriam Lowry of Ellis-Fermor & Negus acted for Unitech Plus on the purchase.

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