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.
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...
LEASEHOLD
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...
LEASEHOLD
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...
LEASEHOLD
|
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...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources