Robert Ware, chief executive of Conygar, said that the Section 106 agreements with Nottingham City Council were at an advanced stage and were agreed in principle. The scheme will be renamed The Island Quarter.
Ware said: “What we need to do now is have a big clear-up of the site to get it ready for development. We have 38 acres and we’ll be submitted a detailed planning application within the next few weeks.”
Ware told Business Desk that the first phase of the scheme will be made up of 600 PRS apartments, co-working space and a hotel.
He added: “How quickly we start on the second phase will depend on tenant demand. We have plans for the derelict railway warehouses to be turned into a creative space and food courts selling local produce, but that will be Phase 2.
“We’re hoping to make a start on the infrastructure for Phase 1 to come forward and then start a build over the summer.”
Paul Seddon (director of planning and regeneration, Nottingham City Council) and Robert Ware (chief executive, Conygar) on The Island Quarter site. Photo copyright Beth Walsh
Councillor David Mellen, Leader of Nottingham City Council, said: “The new Island Quarter will be a major asset to Nottingham, connecting nearby neighbourhoods to the city centre through an area long overdue for redevelopment.
“Breaking ground here today shows that this is a city on the up. Not many places have the opportunity to create a new addition to their city like this, with 40 acres of land prime for redevelopment so close to the city centre.
“The plans to provide a mix of places to live, work and play will perfectly complement the other redevelopments across the Southside area – at Broadmarsh, at Unity Square, in the Meadows and at Nottingham Castle. We’re pleased to be working with Conygar on creating this new space for our city and like many others, I look forward to watching it change before us.”
Stephen Barker, CEO of the Creative Quarter Company said; "It's great that at long last we have activity on this site and by developers clearly committed to making things happen fast.
Much of the Island Quarter is in the Creative Quarter so it has potential to be a big boost for the economy of this part of the city. Creative and digital businesses cluster in the Creative Quarter at twice the density of the rest of the city centre.
The Island Quarter should become a super place for people working in those businesess to live, right on the doorstep of everything else the Creative Quarter has to offer.
Lorraine Baggs, head of investment for Invest in Nottingham said: “This step is a very exciting moment for the city of Nottingham. The plans to bring grade A office space as well as a five-star hotel and retail units will breathe new life into this area of the city.
“The development is set to continue the new era for Nottingham and we hope it can be a catalyst for further investment and growth. It’s great to see the site finally brought back in to use.”
Much of the above courtesy of and copyright Business Desk
