'Team Nottingham' is aiming to make the buildings currently occupied by the Nottingham City Council the talk of the world's biggest property development show, MIPIM, when it is held in Cannes next month.
When the Council moves from its six historical homes across the City to modern offices in Nottingham's new business district, Southside, the magnificent old buildings will become some of the hottest property in the Midlands. Potential investors will have to prove they have the City's best interests at heart before getting the keys as Geoffrey Hibbert, Director of Workplace Strategy and Property for Nottingham City Council, explains:
'Tempting though it might be to look just at the bottom line and take the best price on offer, Nottingham has a disposal strategy that allows capital value to be balanced with broader opportunities for the City's economy. New jobs, with employment prospects for local people, provided for in buildings that make a statement about our ambition, are expected to create the most attractive offers.
Each of the six sites offers unique and potentially very lucrative opportunities for development, but also come with the demand for appropriate use. As Mark Hobson, managing director of Maber architects confirms:
Feasibility studies have been prepared for each site that take account of general constraints and identify both advantages and disadvantages. The illustrated visioning exercises were prepared in consultation with the city development department and were informed by individual strategic design guides produced by their urban design team. The feasibility reports provide potential investors and developers with a concise factual account of the site and the area while at the same time illustrating the exciting potential and appropriate uses for redevelopment or re-use.
Each of the disposals offers a unique opportunity to the property market and the individual character of the sites provide the potential to make a diverse contribution to the urban fabric of the city and general economic vitality. They supply a much needed flow of opportunity sites in Nottingham that will inevitably help kick-start city centre regeneration and they have already generated a significant amount of interest from private sector developers.
The six council sites open for investment are: the iconic Exchange Buildings adjacent to the Old Market Square; the period Edwardian offices in Isabella Street; six storey Lawrence House in Clarendon Street; Severns House on the edge of the Lace Market; the 1.8 hectare Sandfield Centre; and the beautiful and versatile Guildhall on Shakespeare Street.