Council to discuss £2bn development drive

Plans to build on the recent redevelopment of Nottingham are to be discussed by the city’s council next week and include £2bn of opportunities available to private sector investors.

Having successfully invested in and regenerated areas such as Nottingham Station and the surrounding area, Sneinton Market, Dakeyne Street and BioCity, as well as the current Broadmarsh redevelopment programme and wider Southside regeneration, the Nottingham City Council will set out its plans to continue the growth and development of the city centre at a meeting next Tuesday.

It says an approximate £2bn of redevelopment opportunities exist in a 0.5 square mile radius in the city which the council hopes to unlock in partnership with private sector investors.

Plans show a number of potential development sites which the city council own, which it says it can offer to developers to build on and allow both the council and developers to earn a financial return on the schemes.

While a number of sites identified are under development and demonstrate Nottingham’s commitment to its future growth, other proposed sites include:

Angel Row, with Henry Boot devising a Grade A office scheme;
Guildhall, with Miller Birch committed to a top quality hotel and Grade A office space;
Broadmarsh West, the current Nottingham College site which will come into City Council ownership once the new £58 million City Hub is completed;
Unity Square, the new home of HMRC from summer 2021.

A number of other sites have been identified for a mix of office space, residential accommodation and student accommodation to support the growth of Nottingham’s universities.

Cllr Jon Collins, leader of the city council, said: “Recent announcements from HMRC to relocate to a purpose built Grade A office block at Unity Square, the expansion of the City Ground by Nottingham Forest and housing and student developments across the area show an increasing confidence in Nottingham’s potential, all unlocked by our initial investment in key sites in the city centre.

“The council is keen to maintain the pace of high quality redevelopment in the city with a series of potential schemes we feel will appeal to private sector developers and ensure Nottingham can continue to grow and prosper. These plans aim to bring jobs, homes and more opportunities to local residents and we are optimistic this will appeal to a number of potential partners who can deliver good schemes for the city to build on our recent successes.”