Hockley mixed-use building sold for more than £1.25m

A 9,880 sq ft mixed-use property in the Hockley area of Nottingham city centre has been sold for more than £1.25 million.

SPACE Retail Property Consultants swiftly sealed the unconditional sale of 38-46 Goose Gate on behalf of a family propco after receiving a raft of offers for the building.

The 1933-vintage property, which was sold for more than the asking price, was previously home to the Red Hot World Buffet and Bar.

Ben Tebbutt at Box Property worked as agent for the purchaser.

SPACE now says it intends to bring forward further investment assets on behalf of the same propco in Nottinghamshire, Leicestershire and Northamptonshire “in the coming weeks.”

Ben Taylor at SPACE told TheBusinessDesk.com: “It’s rare to have the opportunity to offer such a large block of freehold property in Hockley. As expected we received a large number of enquiries, predominantly from developers – both regional and national parties – wanting to redevelop the existing building or extend the footprint incorporating the land to the rear. The surrounding area has been popular with developers providing mixed use developments for many years and that trend continues to grow.

“My clients are a private family propco with other interests in the East Midlands including more on Goose Gate which they intend to dispose of over the coming months.”