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.
The company offers a well-regarded own brand of hair care products focusing on hair growth and repair, featuring premium formulas that are natural, vegan, and cruelty-free. With a strong global presence and prestigious industry awards, the business h...
This business offers a cutting-edge process safety management platform with proprietary software that ensures proactive safety measures for both onshore and offshore assets. With a strong foothold in the oil and gas sector and recent expansion into i...
This business offers a comprehensive range of road surfacing and civil engineering services, supported by significant investments in state-of-the-art equipment and a recently acquired operational site in Scotland to optimise efficiencies. With robust...
03
|
Jul
|
Energy services firm completes third acquisition | BUSINESS SALE
Energy services firm Earnz plc has completed its third acqui...
03
|
Jul
|
Newcastle life sciences firm falls into administration and ceases trading | ADMINISTRATION
AMLo Biosciences, a life sciences firm based in Newcastle, h...
03
|
Jul
|
Matthew Freud exploring possible sale of eponymous PR consultancy | BUSINESS SALE
Leading public relations executive Matthew Freud (pictured) ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.