Godwin has unveiled ambitious plans to demolish the existing Royal Mail sorting office building and transform it into a large mixed-use residential development. Godwin has entered into an agreement to purchase the site from Emma Property Management Ltd – headed by well-known Nottingham property developer Ken Grundy.
The deal was managed by the real estate team at Irwin Mitchell. Godwin was also supported by civil engineering experts HSP Consulting and the architects for the scheme are RG+P.
“To say we are pleased to have acquired this major site in my own home city is an understatement. We are truly excited about the opportunity to breathe new life into this iconic and historical building within Nottingham city centre, which has been prime for redevelopment since the former Royal Mail office closed in 2002.”Stephen Pratt, Group Land Director, Godwin Developments
The building fronts onto Brook Street and Bath Street where it overlooks St. Mary’s Rest Garden. It’s within the Creative Quarter – a six-minute walk from the city centre. During the construction phase, this major scheme will create around 300 jobs – and 40 full-time positions when fully operational.
A planning application will be submitted to Nottingham City Council in the next two to three months and works will start on site in the next 18 to 24 months.
The scheme will deliver high-quality accommodation within walking distance of both universities and Nottingham’s train station, improve the availability of new residential stock in the city and significantly grow the aesthetics of the area.
“The scheme will provide much-needed brand new residential units in the city, which is in the midst of a £2bn construction boom. We intend to take the development forward quickly, and will work closely with local planners, the community and the council to ensure it provides the best possible opportunities for Nottingham.”Stephen Pratt, Group Land Director, Godwin Developments
Emma Property named the former Royal Mail office the Bendigo Building because of its close proximity to the memorial of William ‘Bendigo’ Thompson, Nottingham’s famous 19th-century bare-knuckle fighter.
This acquisition adds further momentum to Godwin’s national growth and demonstrates yet again its increased appetite for alternative assets. The company is actively seeking expansion across the country – focussing on building long term income streams.
“The Bendigo Building is a significant site within the city of Nottingham, and I am very pleased that my family business, Emma Property Management and Godwin Developments have been able to collaborate on the redevelopment of this important site at the western edge of the Creative Quarter.
“Godwin Developments’ plans for the redevelopment will support the on-going transformation of Nottingham’s city centre and will provide a great boost to the region during these unprecedented times.”Ken Grundy, Veteran Property Developer
The Nottingham deal comes weeks after Godwin Developments announced two significant Build to Rent schemes in Sheffield city centre and central Stafford – creating a pipeline of over 1,300 residential units across the UK.
“Despite current challenges, this scheme highlights again our ability to continue to drive forward in the face of adversity. We believe there is every reason to remain optimistic due to the strong underlying fundamentals within the residential sector.”Stephen Pratt, Group Land Director, Godwin Developments