The Peel Group and Nottingham City Council have today (thurs) announced they have reached agreement in principle to a deal which if confirmed could see the start of Unity Square Phase 1 construction in 2015.
The project could bring forward a 160 bedroom hotel and a first 50,000 square feet of BREEAM Excellent office space, directly opposite the newly refurbished Nottingham Railway Station, with NCC occupying 25,000 square feet of the first phase.
Confirmation of the deal will follow the completion of due diligence, the finalising of heads of terms, and a successful GPF application, but all partners are confident these matters can be swiftly resolved.
Peter Richardson Chairman of the D2N2 LEP said: “It’s great news that Nottingham looks set to add to its BREEAM Excellent office space very soon. I am confident that D2N2 will be able to play its part in making this happen in the very near future.”
Richard Mawdsley of The Peel Group, said: “We are delighted to confirm very positive recent progress on bringing forward our Unity Square scheme in Nottingham. These are still early days but we are confident that outstanding matters can be put to bed very soon, and a start made on this very exciting Grade A office development at this unique location, early next year”.
Councillor Jon Collins, Leader of Nottingham City Council said: “We are really pleased to be part of this new flagship development right at the heart of the Southern Gateway regeneration area. We have a need for some further quality office space near to our Loxley House headquarters, and it’s good to know that our action will help unlock other BREEAM Excellent offices in Nottingham, for which there is proven demand”