Tuesday 23 April 2024
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Nottingham

Funeral business expands residential portfolio with plans for six new apartments in Clifton

The family funeral directors received the green light from council planners to move ahead with a brand new, purpose-built funeral home with additional commercial space and residential flats on Clifton high street last year.

The six new flats will be available to rent later this year.

A.W. Lymn’s residential portfolio growth comes at a time when the UK is facing a critical rental shortage.

The average rental property across Great Britain is now receiving 25 enquiries from prospective tenants to letting agents, three times more than agents were receiving in pre-pandemic 2019.

A.W. Lymn Carlton flats front

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Nottingham in particular has been found to have the biggest fluctuation in price for rentals and the second biggest fluctuation in provisions compared to other cities in England.

With 27 funeral homes across Nottinghamshire and Derbyshire, the fifth-generation family business has been a pillar in the local community, renowned for supporting the bereaved in the region for more than 115 years.

Pete Clarson, Commercial Director at A.W. Lymn said what people are often unaware of is that A.W. Lymn has acquired and manages residential accommodation on the floors above the majority of its funeral homes – because the business, due to the nature of its work, can only operate efficiently on the ground floor.

With the welcome of the new flats in Clifton, the funeral directors will own a total number of 37 residential properties across the region, with several more in the works for 2025 onwards.

Pete said: “At A.W. Lymn, we know the scale of our funeral homes across the region and actively seek ways to utilise our space as best as possible to supply additional accommodation to local areas.

“Our network is ever growing, and we want to ensure we are bringing residential additions that are going to be welcomed by the community, continuously investing into areas that we are proud to have called home for decades.”

At the end of 2023, A.W. Lymn transformed one of its former funeral homes in Carlton after moving to a larger building, bringing five new one-bedroom apartments to the market for rent.

Residents in the area said to have welcomed the proposal, suggesting it would bring more professionals to the area and help first-time buyers.

The family funeral directors recently announced the purchase of its 28th funeral home which will be located on Newcastle Avenue, Worksop. Previously used as a daycare centre, A.W. Lymn is currently waiting on planning permission to create at least two residential flats as part of the refurbishment.

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