MIPIM: Nottingham city council has purchased the Guildhall buildings – a major city centre development site – from the fire service and police.
Nottingham city council has acquired the 1.4-acre prime development site to oversee redevelopment of the whole area as the new landowner. The deal is set to be announced at this week’s MIPIM event.
Hotel management and development company Sanguine already has plans to refurbish the grade II-listed former Guildhall building on Burton Street into a four-star hotel. Other uses on the site could include a mix of offices and conference facilities.
The site sits next to energy giant EON’s recently developed 100,000 sq ft office tower, as well as Nottingham Trent University’s city campus, The Cornerhouse and the Royal Concert Hall.
Plans for the redevelopment of the Guidhall site form a key element of wider regeneration proposals for the city centre, which also comprises the upgrading proposals by Intu for the outdated Broadmarsh and Victoria Centre shopping malls.
Nottingham city council leader Jon Collins said: “Our city is now at a pivotal point with development opportunities, ambition, and a suite of financial and business support available.
“By announcing our plans to acquire this key strategic location in the city centre at MIPIM today we will make sure the redevelopment of this important site has the greatest potential impact for regeneration of the city centre.”
The council is working with the site’s existing tenants – the police and fire service – to find them a new home in the city.
lisa.pilkington@estatesgazette.com
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