City’s Central Library site goes on the market
NOTTINGHAM’S Central Library has gone up for sale.
Last month, council bosses pulled out of a deal, which had been three years in the making, to sell the central library site in Angel Row.
Now, the prime city centre building appears on the pages of property website Rightmove.
The plan had been to work with developers HBD, previously Henry Boot Developers Ltd, to develop the site and market it as offices.
The Director at HBD Ltd said at the time, he was ‘disappointed’ by Nottingham City Council’s decision.
Now, the prime property is up for sale again.
Exactly what will happen to the building now will depend upon who buys it but Nottingham Property Plus, the commercial trading name for property services at Nottingham City Council, has said that “A high-quality residential-led development scheme consisting of a mix of apartments and/or student accommodation with Grade A office space on lower floors is considered the most appropriate form of development for this site.”
The former library in Angel Row has been closed since Friday, March 20, following the Covid-19 lockdown.
A new library is currently being built and will be housed in the new Broadmarsh bus station and car park complex.
So, just what would you be buying if you were in the market for this huge city centre building?
Well, a prime location for a start, it’s in the Old Market Square Conservation Area, and there are four/ five floors of city centre space (that’s 73,410 sq ft of space in total).
Nottingham Property Plus has said that informal planning guidance is available and that the building would be suitable for a significant mixed-use development up to 14 storeys in part (subject to planning).
It added: “Proposals should also include retail, office, leisure and/or A1, A2 or A3 uses which are capable of activating the ground floor frontages.”
The building is being sold either freehold for the whole site or as freehold for the whole site subject to a 999-year lease back at a peppercorn rent of the historic front section, which would need to be refurbished by the purchaser to a shell and core specification prior to the leaseback.
Details of the proposed specification should form part of the bid.
It is for sale by tender, with buyers e being asked to make their offer on the property by noon on December 4, so there will be no development on this site in the short term.