Leading independent property advisor, GVA has completed four deals in Nottingham worth £10 million since the start of the year, with a further £20 million of property set to come to the market over the next 3 months.
The milestone has been reached following the disposal of the 48-unit residential investment 111 The Ropewalk to a south east based property company. The sale was completed by GVA’s specialist Midlands Restructuring and Recovery team.
Other deals which have contributed to this total include the investment sales of The Point office building in West Bridgford, the North West residential development in the city centre, and a parcel of strategic development land situated adjacent to the Trent Bridge cricket ground.
Alan Ryall, Associate within GVA’s Restructuring and Recovery team, said: “The Ropewalk is an outstanding example of a centrally located, high specification residential investment opportunity. The high level of interest we generated in this opportunity came from local, regional and importantly, national investors highlighting the increasing appetite for well-located assets in UK cities outside of London.
“With over £10 million of property transacted in Nottingham since the start of the year, it is clear there is a confidence within the Nottingham market highlighted by the competitive bidding that has been experienced in undertaking these disposals. What is most encouraging is that these deals represent a cross-section of the property sector, rather than being confined to one particular area.”
GVA has an exceedingly active pipeline of properties in Nottingham, with opportunities totalling a further £20 million set to be released to the market over the next 3 months.
Alan said: “We have a considerable number of opportunities set to come to the market shortly, representing a combination of development land, investment opportunities and properties suitable for owner occupation.
“Through our multi-disciplined approach and coupled with the recent levels of interest experienced, we are confident of achieving similar success with our forthcoming sales.”
GVA acted in the sale of 111 The Ropewalk on behalf of RK Grant, S Wilson and AC O’Keefe of Zolfo Copper, Joint Administrators of LMCL Ropewalk Limited.
