Work has now completed at Nottingham One, the most iconic residential development seen in the city for decades.
The city’s most talked about mixed-use development project, which comprises 237 apartments and 55,000 sq ft of office space, has already attracted eager buyers and overseas investors.
Nottingham One, situated off Canal Street, is a pivotal part of the city’s regeneration plans and is a major focal point along one of the main arterial routes in and out of the city.
Construction firm Willmott Dixon has brought the landmark waterside development to completion – with apartments and commercial space being marketed by FHP Living.
Nick Heath, operations director for the East Midlands at Willmott Dixon, said: “We are pleased to have been the contractor responsible for delivering the completion of this project, which being honest has had its challenges. Formerly known as South Reef, the development lay dormant for five years and has had several owners since original work began back in 2007.
“Work on the development stalled in 2010 as a result of the economic downturn. Willmott Dixon was appointed to complete this key regeneration scheme.”
Willmott Dixon started on site in February 2013, turning the site into an exciting waterside scheme that had always been intended for the city.
“I am now delighted to say that the works have now been completed and our team has moved off the site, so Nottingham One is now ready for current and prospective occupants to enjoy,” said Nick.
Residential sales at the site have been booming since the release of 73 apartments in the Terrace and Pavilion in October, more than 75 per cent have been sold or are currently under offer.
The final phase of apartments, which is located within the impressive 13 storey Tower, is due for release next month.
Oliver Marshall, consultant at FHP Living, said: “Nottingham One has everything going for it – a high spec build, fantastic waterside location and spectacular views over the historic Lace Market – all within a short walk of the city centre.
“Sales have been going really well – since October we have completed on 30 sales, with a further 30 or so under offer – and the completion of the building works will allow us to push on with the remaining apartment sales.
“The scheme has been very popular with first time buyers and investors alike, which is to be expected of apartments of such high build quality. The interest we have received since launching the accommodation in October has far exceeded our expectations.
“We are very close to being able to launch sales within The Tower, the final phase of the scheme. Apartments within this 13 storey section of the development will offer unrivalled views of the city and are sure to be hugely popular.”
David Hargreaves, director at FHP added: “Nottingham One benefits from a fantastic location. The bridge over the canal leads to the new station and when the two new tram lines open, there will be an easy access to the QMC, the university and Beeston benefitting all the people who work there, and live at Nottingham One.”
The Nottingham One complex started life as ‘South Reef’ – a mixed use canal side development to include luxury apartments, office accommodation and restaurants – in 2006.
But the collapse of construction firm Thomas Fish and Sons in April 2008, followed by developers South Reef Properties falling into administration three years later, saw works at the £50 million scheme grind to a halt.
In November 2012, an Isle of Man-based consortium with funding from Dubai took on the site, renaming it ‘Nottingham One’ before appointing construction firm Willmott Dixon to complete the works.