Saturday 2 March 2024
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Nottingham

Nottingham Guildhall site sale can now be completed after terms agreed

Nottinghamshire City Council is planning to sell the Guildhall complex.

The decision can help the financial situation of the city council and remove the burden of holding a vacant property.

Originally built in 1887, the Guildhall has hosted a magistrates’ court, police station and fire station during its history.

guildhall

The site, which fronts Shakespeare Street, South Sherwood Street, Burton Street and North Church Street, is made up of a series of historic buildings including the Guildhall and the former Police Headquarters and Central Fire Station.

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The sale process has been ongoing since 2016 with a buyer, but was stalled in January 2023 when the asset was listed. Revised terms have now been agreed upon so a sale can go ahead, this has been recommended.

An independent external valuer has valued the property.

The sale of the Guildhall complex is significant for several reasons: The disposal of the property is expected to generate a substantial capital receipt for the council, reducing the financial burden associated with maintaining a vacant property.

The sale will enable the property to be brought back into beneficial use, which can have positive impacts on the local area.

The agreed terms of sale comply with the Council’s Disposals Policy, ensuring that the transaction delivers economic, environmental, and social benefits.

The report highlights the risk of not selling the property, emphasising the ongoing costs to the council for maintaining it vacant. The decision is expected to have significant implications for communities living or working in the area, although specific details of the impact were not disclosed in the available document under exemptions allowed to be held because it contains commercially sensitive information.

Back in 2020 plans were submitted planning application submitted by Ascena and architects RPS Design Group revealing a 162-bed, four-star hotel, which included a rooftop fine dining restaurant, spa and wedding and conference facilities to bring the building into its next lifetime…

Then in 2022 more plans, this time for a 967-bed student accommodation facility complete with a food hall for 500 diners. This application was recommended for approval at a planning meeting in January, but at the eleventh hour, the building was given Grade II listed protection by the Department for Media, Culture and Sport, upon the recommendation of Historic England.

In February 2023 the council faced a bill of £140,000 for asbestos removal. 

Last year any redevelopment of Guildhall was put on hold while Nottingham City Council and a developer appealed the decision to give the site Grade II listed protected status.

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