After standing empty for more than two years, and following a year of negotiations, a former Jobcentre Plus in Newark has been sold.
The derelict 1970s-built concrete-framed building in Lombard Street has been sold by Nottingham property specialist FHP for an undisclosed sum.
The agent says that the process was lengthy due to the sellers of the site taking some time to free up the property, which was part of a portfolio of other sites.
Named Crown House, the three-storey building has been sold to Nottingham-based developer 2GP Ltd, which will convert it into 18 one-bedroom apartments.
2GP, which are behind projects such as the transformation of St Peter's House in Derby into apartments, says by carrying out the ambitious project, it will revamp part of Lombard Street, which has been forgotten since the centre closure.
Arran Bailey, director at 2GP, said: "We are thrilled to be able to finally start work, after a year of complex negotiations and a lot of patience.
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"This will be a high quality housing project, which will really boost that part of Newark. We are raring to go."
Paul Giles, managing director at Auction Estates, which acquired the building on behalf of 2GP, said: "Newark is a very strong market town with great connections to London on the East Coast Mainline. There aren’t many historic market towns which continue their market tradition, which is what makes Newark so unique.
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"Train connectivity is fantastic, and when teamed with its visual appeal, Newark has a very strong traditional sales market, and a buoyant rental market to boot."
Planning permission for the new apartments was granted by Newark and Sherwood District Council in October 2019.
The apartments are expected to come to the market early next year.