March 13, 2014

FANTASTIC NEWS FOR NOTTINGHAM WITH UNITY SQUARE OFFICE SCHEME GOING AHEAD

FHP is advising Peel Group on the development of the first phase of Unity Square, which will see 50,000ft² of BREEAM Excellent Grade A office space and a 160 bedroom hotel constructed directly opposite Nottingham Railway Station.

Peel has secured a deal which will see Nottingham City Council take 25,000Ft² of space in the building in order to help development get underway.

The scheme will benefit from the £60m investment in transforming the railway station into a transport interchange bringing together train services with the Nottingham tram network.

Confirmation of the Unity Square 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.

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.”

FHP founding Director John Proctor is acting for Peel Group. He commented:-

“This is the centrepiece of Peel and the City Council’s vision to create a sense of arrival opposite the transport interchange.  They are delivering Grade A BREEAM Excellent offices and starting what can be a major business district. It is fantastic to see the City Council enabling this scheme to come forward at an ideal time when the economy is strengthening and enquiry levels are picking up.  It is vital that Nottingham is able to compete commercially with locations like Birmingham and this will give us an opportunity to do that.”

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