£200m Nottingham Office Scheme Could Create 5,000 Jobs

Developers want to invest £200 million creating a new Nottingham office quarter – which they say could lead to 5,000 jobs. Peveril Securities and Sladen Estates are working together to try and get the new business district off the ground, near the city’s former Broadmarsh shopping centres.

They want to create the scheme on two acres of land flanked by Canal Street, Collin Street and Greyfriar Gate. The developers have already acquired the freehold and long leasehold interests in a large proportion of the site –including a former scooter centre, Chinese supermarket, Albion House and open car parking.

The Broadmarsh area is currently undergoing huge regeneration and has been under the spotlight for some time, as the shopping centre demolition plans came to a halt more than a year ago. Other works, such as the City Hub, car park and new Central library have nearly all been completed.

Sladen and Peveril are in conversations with Nottingham City Council about New Albion Place, which aims to boost the local economy and help Nottingham in post-Covid recovery. The team has successfully delivered the new HMRC headquarters near Nottingham train station and is now looking towards the new development.

If agreed, the ‘Grade A’ offices would be built by Derbyshire-based Bowmer + Kirkland.

Ralph Jones, managing director of Peveril Securities, said: “We are in early discussions with a variety of occupiers for more than 250,000 square feet of space and are very excited to bring forward this development.

“We believe that this development will complement the proposed open spaces being considered at Broadmarsh and through the renovation of Hanson House and Richmond House, will retain some of the original heritage of the area.

“It will add to the ongoing transformation on the Carrington Street link between the station and central Nottingham, which has included the recent refurbishment of the City Buildings, the construction of the new library and car park complex, and the ongoing public realm work on Collin Street.”

Nick Sladen of Sladen Estates said: “This scheme is a great opportunity for Nottingham to reinvent itself following the pandemic and take advantage of the transformation of the Broadmarsh area – not just for green space and leisure areas, but for much-needed office development that will provide real sustainable growth and inward investment.

“Nottingham has an opportunity to totally redefine its city centre.

“We have a proven track record throughout the UK and locally, with Unity Square – a building on former derelict land which has secured thousands of jobs for the city - and has put Nottingham on the map as a major employment city.”

A detailed planning application is due to be submitted in the autumn, with a view to start construction work in 2022 lasting two years.

The appointed letting agent and development adviser for the scheme is FHP Property Consultants.










Source: BusinessLive
Image Source: Business Live