FHP NEGOTIATE THE ACQUISITION OF A 6 ACRE SITE IN BESTWOOD, NOTTINGHAM FOR LIDL, SUBJECT TO PLANNING

Land News

FHP acting on behalf of retained clients Lidl have negotiated the acquisition of a 6.6 acre site next to the Nottingham City Hospital for Lidl on a subject to planning basis.

The site was marketed jointly by Nottingham City Council and Stephen Hemming of Lambert Smith Hampton – Birmingham.

David Hargreaves said:  “This is a much larger site than the typical Lidl site of 2 acres.  FHP provided advice to Lidl about the development options for the likely surplus land of some 4 acres and because the location will fill a gap in the Lidl network in Nottingham they decided to buy the whole site subject to planning.”

FHP subsequently agreed terms on behalf of Lidl with MyPad to sell on the surplus land subject to planning which will be developed to provide new Affordable Family Housing.

A mixed use joint Planning Application has now been submitted to Nottingham City Council by Lidl and MyPad.

Hargreaves said: “This acquisition is a great example of the flexibility that Lidl bring to their site acquisition programme, whilst demonstrating FHP’s ability through our market knowledge and contacts to be able to underwrite risk for our clients.”

It is hoped Planning Consent will be secured this summer with Lidl opening Spring 2023.

 

ENDS

David Hargreaves

Date: 21 July 2022