Plan revealed for £200m office scheme in Nottingham city centre

Broadmarsh West prior to demolition

The team behind the new HMRC offices in Nottingham city centre have revealed plans for a second major Grade A office scheme.

Peveril Securities and Sladen Estates have revealed plans for New Albion Place, located next to the former Broadmarsh shopping centre site.

The plans include the redevelopment of two acres of land surrounded by Canal Street, Collin Street and Greyfriar Gate.

The £200m scheme could bring forward some 400,000 sq ft of office space and create 5,000 jobs in the city centre.

Ralph Jones, managing director of Peveril Securities, said “We are in early discussions with a variety of occupiers for more than 250,000 square feet of space and are very excited to bring forward this development. For many years Nottingham has needed a dedicated central business district to provide much-needed large floor plate ‘Grade A’ office buildings to retain key employers within the city and stimulate inward investment.

“We believe that this development will complement the proposed open spaces being considered at Broadmarsh and through the renovation of Hanson House and Richmond House, will retain some of the original heritage of the area. It will add to the ongoing transformation on the Carrington Street link between the station and central Nottingham, which has included the recent refurbishment of the City Buildings, the construction of the new library and car park complex, and the ongoing public realm work on Collin Street.”

Nick Sladen of Sladen Estates said: “This scheme is a great opportunity for Nottingham to reinvent itself following the pandemic and take advantage of the transformation of the Broadmarsh area – not just for green space and leisure areas, but for much-needed office development that will provide real sustainable growth and inward investment.

“Nottingham has an opportunity to totally redefine its city centre. As a locally based national developer, we are committed to helping the city make this work and our willingness to make such a significant investment in the city will kick start the wider regeneration proposals planned by the city.

“We have a proven track record throughout the UK and locally, with Unity Square – a building on former derelict land which has secured thousands of jobs for the city – and has put Nottingham on the map as a major employment city.”

The developers are aiming to submit a detailed planning application in the autumn, with a view to commencing construction work in 2022. Construction is expected to take 24 months.

The appointed letting agent and development adviser for the scheme is FHP Property Consultants.

John Proctor of FHP said: “In order for Nottingham to retain its status as the regional capital of the East Midlands, it needs offices of a scale and nature that one finds in other major centres within the UK.

“We are privileged to have national developers of the size and stature of Peveril and Sladen, which are locally-based and capable of delivering a scheme of national importance. Their initial speculative intervention and purchase of the former car park and redundant buildings opposite to Nottingham Station led to the successful delivery of the first phase of Unity Square, which will soon be occupied by HMRC.

“For Nottingham to achieve its aspirations as a core city of regional significance we need schemes of this size and stature to both retain our existing employers and attract inward investment. The central business district on the south side of the city has now been more than ten years in the making and finally one can see, thanks to Peveril Securities and Sladen Estates, that this objective can now be realised.”