Crowngold Estates has completed the acquisition of landmark residential scheme River Crescent in Nottingham.
Crowngold has paid around £22m for the development, located on the banks of the River Trent, which includes 128 luxury flats. The first penthouse is to be sold in Nottingham for more than £1m.
GVA’s specialist restructuring and recovery team advised restructuring firm Zolfo Cooper in the sale of the residential block.
A total of 17 offers were received, with around 70% of the interest originating from investors based either in London and the South East or overseas, said GVA.
Benjamin Cowen, head of residential at Crowngold, said: “This is an excellent investment opportunity, built to an exceptionally high specification. It enjoys a fabulous riverside position adjacent to Colwick Country Park, and is a great addition to our portfolio of apartment buildings.”
lisa.pilkington@estatesgazette.com
