One of the most important gateway retail schemes in Nottingham for many years has been given the green light by planners.
A planning application has been granted for the £10 million landmark retail scheme known as Eastpoint in Daleside Road on the outskirts of Sneinton. It will breathe new life into the area and create up to 200 jobs.
The scheme by Cedar House Investments, one of the region’s leading developers, will transform the five-acre site – formerly the Sunlight Laundry.
The site has attracted an Aldi, which will be the anchor retailer, taking up a 16,500 sq ft unit. There will be a further 30,000 sq ft of retail space and 5,330 sq ft of ancillary use and restaurants.
Peter Gadsby, chairman of Cedar House Investments, said: “We are delighted that this development has been approved. The site, which has been dormant for some years, will further facilitate investment in Waterside.
“We know that our retail development, which is anchored by an Aldi food store, is much needed for the people of Sneinton.
“The scheme will breathe new life into an area of the city which is in need of investment. Cedar House has the ability to fund this development through its own resources and is delighted to be driving forward regeneration in the city. The development is going to be delivered in one phase, much of it on a speculative basis and we are confident that we will attract high quality occupiers.
“The scheme will help form a gateway to the Waterside development area, and along with Blueprint’s £26 million housing scheme located opposite will create a new city community.”
Joint agents JLL & FHP are marketing the remainder of the retail units and are already responding to strong interest, he added.
“The combination of the housing scheme and the East Point Gateway sites are the major catalysts needed for the redevelopment and regeneration of this area of Nottingham,” added Peter.
After the recession, it is more important than ever to drive forward development in the region, and we are pleased to be at the centre of such economic growth,” added Peter.
