Property firm completes sale of all apartments at Nottingham development

Residential property investment firm, Centrick Invest has completed the sale of all 27 apartments at one of Nottingham’s new developments.

Birmingham-based Centrick Invest collaborated with developer Landstar to find buyers for the loft-style apartments at The Glassworks, a converted Victorian factory building located on Crocus Street in a Conservation Area.

The team secured sales to UK investors, overseas investors and owner-occupiers.

Ranging in price from £150,000 for one-bedroom apartments to £275,000 for two-bedroom lofts, the properties were all sold within just eight months.

The Glassworks is part of the Southern Gateway, a £250m regeneration area that will feature a retail complex, a library and 75,000 sq ft of public space.

Over £2bn in regeneration projects are currently underway or planned, including a college campus and 850,000 sq ft of Grade A office space.

The conversion of the historic glassworks site was launched as a permitted development in several territories.

Andy Butts, Centrick Invest’s new homes and investments director, said: “We are thrilled at the results we have achieved at The Glassworks where we have smashed both our sales and rental targets,” said Andy. “Our team sold all the apartments before the development was complete, and the rents are higher than we had anticipated. It is a great result for our investors and demonstrates the strength of the buy-to-let market in Nottingham.

“The city has a very strong investment story to tell. There is a huge amount of investment in various regeneration and infrastructure schemes which help to improve city centre living. Nottingham has always been popular with students but we are increasingly seeing young professionals choosing to make their homes in the vibrant centre of the city.

“We have very successfully engaged the overseas distribution arm of Centrick Invest to deliver the very best outcomes for our UK clients, including Landstar Ltd. Working alongside several developers over the past 12 months, we have been able to offer overseas investors some very attractive opportunities and it is great to see so many sales being agreed.”