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A new 350 apartment construction adjacent to the Hickling Building on Station Street in Nottingham city centre has received a boost this week, in the form of a £45m investment from London-based Cording Real Estate Group.
Saffron Court, currently under construction, from Cassidy Group, is the first Private Rented Sector (PRS) scheme to receive funding in Nottingham.
Nottignham-based FHP Property Consultants and FHP Living acted for Cassidy Group on the deal.
Tim Holden, director of residential development and asset management at Cording, said: “David Hargreaves and his team at FHP spent a number of hours driving us around the city ‘selling’ Nottingham, which helped to give ourselves and our investors confidence in both the city as a whole and also the development.
"The demographics, the local economy and the affordability indices were all right for Nottingham and with the recent successes of Nottingham Trent University winning University of the Year and the evolution of the Creative Quarter, we think Nottingham has a bright future. Some 48% of the 300,000 people living in Nottingham are under the age of 30.”
David Hargeaves from FHP added: “We worked closely with Patric Cassidy and the Cassidy Group to convince Cording Real Estate Group and their investors, which include European Funds, that Nottingham was the place to invest.”
Two Nottinghamshire companies are amongst seven from across the East Midlands listed in the 19th annual Sunday Times BDO Profit Track 100 league, which will be published this Sunday. It ranks ranks Britain’s 100 private companies with the fastest-growing profits over their latest three years
Newark based Cardzone and Newthorpe based structual steelwork contractor Caunton Engineering are both new entries in the league table, with combined profits of over £10m. Their profit growth over the last three years alone averages over 70%.
The region's push for further Grade A office space is being answered by NG Chartered Surveyors and Measures and Co, which are both behind a scheme which will see more than 23,000 sq ft built at Edwalton Business Park.
The offices, which are sited on Landmere Lane off Melton Road and adjacent to the ring road, will have solar panels on the roof and electric car charge points. Four separate units are being built, with one already sold. Building work is expected to be completed by June 2019.
Invest in Nottingham's Business Expansion Specialist Ken Nettleship said: “It’s significant to see new offices being built in such a well connected location on the edge of the city. We’re seeing a good level of demand for space around this size so it’s good news for companies looking to expand or relocate into Nottingham.”
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