A luxury housebuilder has sold what has been described as a “prime redevelopment site” fronting onto the River Trent in Nottingham.
Gilbert & Hall has sold the Riverside Way land, next to the Wilford Toll Bridge, to Nottingham-based developer Unitech Plus.
David Hargreaves of FHP Property Consultants, in Nottingham, acted for Gilbert & Hall after its plans to build on the site were put on hold at the height of the pandemic.
READ MORE: {}
Paul Tewson and Chris Hall of Gilbert & Hall had worked with Steve Rayner of Rayner Davies Architects to secure planning for a 42 unit, 30,000 sq. ft apartment scheme on the old industrial site, including 24 duplex apartments.
Paul Tewson said: “We work really well with FHP Living and FHP and had instructed them back in February last year, but when the magnitude of the Pandemic started to be realised David advised us to put the launch on hold until market sentiment improved which we did.
“However, in November David had an enquiry from Unitech Plus, to whom he had sold three other sites, looking for a further site to buy and within two weeks he had agreed terms for the sale of the site at circa £40,000 per unit in an off market transaction at our target price.”
David Hargreaves said: “This is a really clever site overlooking the River Trent, just 30 metres from Victoria Embankment and with a tram stop on its doorstep.
“Gilbert & Hall are great to deal with as they are so organised, with all the documents ready for a speedy transaction, with solicitors instructed on November 11, and the sale completed early February 2021 – which given Christmas, New Year and a national lockdown was impressive stuff.
Most Read
“When the design and location is as good as this and with planning in place and ready to go, finding a buyer when you are specialists in this market is relative straight forward and so much credit should go to Rayner Davies and Gilbert & Hall as well as the Lawyers, for the speed of the transaction under trying circumstances.”
Ehsan Sabet of Unitech Plus said: “David Hargreaves and FHP are straightforward people and easy to deal with – they do not over-complicate matters and we trust them.
“They always have some great sites and we have bought sites in Beeston, Bramcote and now Riverside Way from them.
“This is a stunning site and we are really looking forward to getting on site and delivering these beautiful apartments on the River.”
Chris Hall of Gilbert & Hall said: “Although as a company we have built apartments in the past, including the very successful Anglo Scotian Mills site in Beeston, we are now more focused on the top end luxury family homes market with our recent schemes in Bramcote and Beeston, and our current scheme of six large five-bed homes in Wysall, where we have recently started on site and which will be launched shortly.
“We are delighted with the outcome and as always FHP and FHP Living delivered.”
Antony Fyson of Rotheras acted for Gilbert & Hall on the sale and Miriam Lowry of Ellis-Fermor & Negus acted for Unitech Plus.