News

Nottingham Guildhall sale back on track after new terms agreed with buyer

By Joe Locker, Local Democracy Reporter

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The sale of Nottingham’s landmark Guildhall is back on track after new terms were agreed with the buyer.

The Grade-II listed Guildhall, built in 1887, makes up a large part of a city centre site earmarked for development alongside the former police and fire headquarters on Shakespeare Street.

The council has been in a contract for sale with property company Miller Birch since 2016 and there had been substantial plans for the site.

Original proposals involved turning the Guildhall into a hotel, while the police and fire station was to be demolished to make way for student accommodation.

However in January last year the Department for Digital, Culture, Media and Sport (DCMS) awarded the police and fire headquarters Grade-II listed status on the recommendation of Historic England and Nottingham Civic Society.

Nottingham City Council and the prospective owners attempted to appeal the decision, but this was rejected.

All the plans for the site were then shelved in September.

Now council documents, published ahead of a meeting on February 13, say revised terms have now been agreed with the purchaser.

Because of the listing the site has become “an entirely different commercial proposition in that the development capacity is now much reduced,” documents say.

The listing means the police and fire buildings can no longer be demolished as planned, and it is understood the revised terms include a reduced sale price.

The new terms have been recommended for approval by councillors.

Councillor Steve Battlemuch, Portfolio Holder for Skills, Growth, Economic Development and Property at Nottingham City Council, told the Local Democracy Reporting Service: “This is positive news for the council and for Nottingham as it will see a prominent, city-centre location redeveloped and brought back to life.

“It has a been a lengthy and complex process given the scale and location of the site, which was further complicated last year when protected listed status was granted just ahead of sale terms being formally agreed with a developer.

“Revised terms have now been approved, which will still generate a substantial capital receipt for the authority. This site has been vacant for a long time and this sale, while regenerating the area, relieves the council of the financial and practical burdens of its ongoing maintenance and security.

“The final price will be subject to an independent valuation to determine best value for the council, and the sale remains subject to the prospective purchaser obtaining a detailed planning consent.”

Remarketing the asset was not considered to be in the best interests of the
council, documents add.