Geldards has revealed its role in the latest development announced by Nottingham City Council regarding the regeneration of the derelict Broad Marsh shopping centre.
Government housing agency Homes England has agreed the purchase of the Broad Marsh from Nottingham City Council as well as land to the west of ‘Green Heart’ the city’s new green open space, a multi storey car park, Severns House and a former college site, all of which are due for demolition and some of which may start as soon as the summer.
Homes England champion the creation of sustainable homes and communities, working in partnership across the public and private sectors. The acquisition of land and buildings by the agency is a significant step in the regeneration of the city which will see the development of 1,000 homes and 20,00 square metres of retail office and community space. It is anticipated the redevelopment will create two thousand new jobs during the life of the project, helping to boost the local economy. In addition, the retention of the City’s ‘Green Heart’ and the City of Caves visitors attraction by the Council will help make this a truly unique redevelopment and offering in the heart of Nottingham.
Geldards worked with multiple stakeholders to provide comprehensive legal advice to Nottingham City Council and ensure the successful conclusion of the sale of the buildings and land to Homes England and retention of the City of Caves by the Council. Leading on the advice was Commercial Property Partner Hélène Maillet-Vioud, supported by Real Estate specialist Caroline Findlay and Public Sector Partner Neil Walker.
Commenting on the project Commercial Property Partner Hélène Maillet-Vioud said:
“Geldards is thrilled to have played an important role in this vital regeneration project for the City of Nottingham. We are delighted that the space will now be put to good use for the benefit of local people, visitors to the city and will boost the economy too. It’s a professional highlight for me to be involved in helping the Broad Marsh site take a big step forward into the next phase of its future. The project team worked extremely hard to deliver this complex transaction and we are pleased to have achieved such a great result.”
A Nottingham City Council spokesperson said:
“This is really positive news for Nottingham and marks the start of a major redevelopment for this key part of our city. We are grateful to the many stakeholders who have worked tirelessly behind the scenes to help bring this project to fruition. Geldards played a significant role in helping conclude the transaction with Homes England and I would like to thank them for their specialist legal knowledge and sound advice.”
Posted on 08 April 2025
