Mixed-use plans take a step forward as sale completes of 28,000 sq ft prime retail unit
A deal to sell a prime Nottingham retail unit that was on the market for £4.1m has been completed.
A source close the deal told TheBusinessDesk.com that plans to transform 191-195 Lower Parliament Street, which is is currently let to Peacocks-owned Bon Marche and Poundland, into student accommodation and a covered market are now progressing.
How the building looks now
New drawings of the redevelopment plans show that the lower ground floor of the building could be used as a year-round covered market, while the plans for the upper floors include 81 student flats.
Thurland Street, which runs down one side of the 28,000 sq ft building, would be pedestrianised under the plans.
Allsop acted as agent on the sale.
Marketing material outlining the plans reads: “The property has the potential to be a prime development site within the heart of Nottingham city centre subject to all necessary consents.
“Given the property’s location in relation to the city’s retail provisions and Nottingham Trent University’s main campus, a mixed use scheme seems viable.”
