Developer Cassidy Group Ltd has brought the 0.41 acre / 18,049 sq ft Chainey Place freehold development site to market, which benefits from dual planning permission to deliver a new PBSA scheme – or Build to Rent scheme – in Nottingham.
PBSA plans include the delivery of 245 student beds in a mix of ten five-bedroom, four seven-bedroom and 14 eight-bedroom clusters, alongside 1.06 m2 of amenity space per student.
The scheme has been designed with sufficient amenity space to offer the expected cinema/games room, gym, study areas, communal kitchen, and more. However, the areas still need to be finalised in the design, leaving the purchaser to fine-tune the scheme’s amenities as desired.
Some of the on-site facilities include cycle parking, three drop-off parking bays, and one accessible parking bay.
Situated in a desirable City centre location on 66-68 London Road, Nottingham, NG2 3AW, the scheme is approximately 650 m to the south of the city centre and 150 m from the National Rail station, which incorporates the Nottingham Express Transit (NET) Tram Hub.
The new University of Nottingham Castle Meadow Campus is only a 14-minute walk from the site, which provides convenient access to the University and neighbouring city amenities.
Attractions and key areas such as The Lace Market and Creative Quarter, Intu Broadmarsh, BBC Nottingham and the canal surround the site.
Asking price for the freehold land is £3.9m and Cassidy Group Ltd can only accept unconditional cash offers.
There is flexibility on the sale structure. The buyer can purchase the clean SPV, which owns the freehold land, creating a stamp duty saving.
Payment in stages will also be considered, such as 80/90% on completion and the balance (20/10%) at a later date, with securities/guarantees in place.
To enquire about the sale, contact Daniel Robinson – Development Manager at Cassidy Group Ltd on 07770 481353 or email daniel.robinson@cassidygroupltd.com.
“Cassidy Group Ltd are delighted to bring this freehold land sale opportunity to the market; the site benefits from two planning permissions, enabling the purchaser to develop 122 PRS apartments or 245 PBSA beds, depending on preference.
“It is located 650 m to the south of the city centre and 150 m from the Nottingham Train Station, which incorporates the Nottingham Express Transit (NET) tram hub.
“The site is a 14-minute walk from the University of Nottingham’s new City Centre Campus, Castle Meadow.
“Whilst Nottingham continues to be ranked among the UK’s largest student populations, the scheme addresses the 19,000-bed shortfall in the City anticipated by 2026.”
Daniel Robinson, Development Manager, Cassidy Group Ltd
Nottingham boasts two Universities with over 60,000 students. The wider Nottingham Urban Area is the ninth largest by population and has a positive economic outlook, with strong growth forecasts particularly within the Clean Technology, Life Sciences and Digital Content sectors.
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