FORMER COMMERCIAL BUILDING SOLD WITH PLANNING CONSENT TO BUILD 3 TOWN HOUSES IN LENTON, NOTTINGHAM

Industrial/Warehouse News

FHP are very pleased to announce that the Former Classic Rewind Building on Park Road in Lenton has now sold. The building had been occupied for many years by Classic Rewinds for commercial purposes but was sold with planning permission to be demolished and converted into 3 town houses.  The building consisted of 3,859ft² on a 0.09 acre site situated just off Castle Boulevard, a 5 minute walk to the City Centre.

Anthony Barrowcliffe of FHP Property Consultants commented:

“I met with Trevor Norman (owner occupier) over 2 years ago to discuss the options available with his building due to his retirement.   

After understanding the situation and from working through the appraisals I established that converting the building into residential would derive the highest freehold figure and would meet market demand within the area. 

The unit was in a residential location and was a great opportunity for a developer, builder, or investor to convert.  Trevor took my advice and instructed an architect to get the necessary residential consent prior to marketing.  The application was granted, and I proceeded to market this opportunity, which we went on to sell to Isla Investments Limited. 

I am very pleased with the outcome of this sale having advised the client from the very start right through to completion.  I was satisfied the correct advice was given and that I could advise on different strategies to achieve the highest freehold figure opposed to just marketing the site ‘for sale’ as its existing use.” 

Fiona Moore of Rotheras Solicitors represented the vendor and Vik Moothia of Elvin Moore solicitors represented the purchaser.

For further information on this deal or advice on development or conversion options available for your property please contact Anthony Barrowcliffe of FHP Property Consultants on 07557 972008 or email anthony@fhp.co.uk.