Nottingham’s Guildhall sale approved, major development to follow

Thu, 20 Oct 2016 | COMMERCIAL PROPERTY

The £110 million sale of Nottingham’s Guildhall site has finally been approved, paving the way for a four-star hotel, office space and student accommodation to be built there.

The Guildhall, at one time Nottingham’s magistrates’ court, will be transformed into a mixed-use site after it was sold by Nottingham City Council to development firm Miller Birch.

Its sale was announced back in March but has only just been finalised.

The 410,000 square foot development will see the Guildhall building refurbished as a four-star hotel and the construction of offices, student accommodation and conferencing facilities.

Up to 1995, the building was a criminal and magistrates court and was then the home of Nottingham’s police and fire services, who have now moved to a new address.

The development is part of the council’s Nottingham 2016: City of Opportunity regeneration scheme, which will see key zones in the city, including its creative quarter and city centre, redeveloped.

Work at the Guildhall is set to start in 2018, but Miller Birch said it was already looking for tenants.

Peter Gadsby, chairman of Miller Birch, said: "We are delighted to have signed the agreement with Nottingham City Council to purchase this major landmark city centre site.

"We now look forward to progressing our plans and to work with the occupiers to deliver an iconic building befitting such an important prime city centre site."

Councillor Graham Chapman, deputy leader of Nottingham City Council, said: "The sale of the Guildhall site means more businesses, visitors and jobs will come to the city through the development of this site. The plans from Miller Birch are a good example of our plan to grow the city and we're looking forward to seeing their development of the Guildhall progressing now."

Take a look at our property pages for more information on buying and selling commercial property.


Share this article



Latest Businesses for Sale

Wood Burning Stoves Retailer
North Yorkshire, Yorkshire and the Humber, UK

Lifestyle wood burning stoves retailer, iInstaller and wholesaler: Includes stones and reclaim / salvage business. This is a well established family business within the fashionable and lifestyle choice sector of wood-burning stoves. These stoves are...

Asking Price: £165,000
Turnover: £746,000

LEASEHOLD


Fireplace Surround Business
West Midlands, UK

Renowned and respected business, favoured by customers for its unique product offering and its excellent service. Established in 1990, the business has overcome several recessions, continually growing its reputation, workload and customer base. The c...

Asking Price: £750,000
Turnover: £750,000

LEASEHOLD


Garden Machinery Lawnmowers Tool Hire Business
North Wales, Wales, UK

Garden machinery, tool hire, lawnmower sales and repair business, ideally situated within a popular residential area in North Wales. The business is split over two sites, one is a retail unit with workshop, close to the town centre, whilst the larger...

Asking Price: £225,000
Turnover: £310,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Nov
 

Warm Zones enters administration | ADMINISTRATION

A North Shields-based non-profit business dedicated to helpi...

 
15
 
Nov
 

Berketex Bride enters administration | ADMINISTRATION

With over 50 years in selling wedding dresses, Berketex Brid...

 
13
 
Nov
 

Intermet Refractories completes MBO deal | MBO/MBI

Intermet Refractories, a metal casting component manufacture...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources