A former 32-bed care home in Arnold is set to be turned into flats after a developer completed a six-figure deal to buy the building.
Nottingham-based property development company, Hockley Developments bought Millbeck House on Oakdale Road with plans to convert the building into 23 self-contained apartments.
Situated in the Killisick Estate, the 7,895 sq ft property attracted interest from a variety of sources for both continued and different uses, with several entering the initial bid process.
Craig Straw, director at Innes England who acted as agent on the deal, said: “The confidence in the location made this a highly sought-after site. Following a competitive bidding process, in which we received a number of credible offers, we are delighted to have successfully sold this asset to Hockley Developments who have an excellent track record of converting these assets into much-needed homes.
“The sheer volume of bids and enquiries demonstrates the on-going confidence in the Nottingham market.”
Hockley Developments Sales Manager Jo Callaway said: “We have been keen on this property for a number of months, and are delighted to have completed this purchase, and to be able to deliver new housing in an area that has a real shortage of one and two-bed properties.
“We have already seen strong demand from locals and expect a good number of off-plan reservations.”
Work on the site is expected to start shortly, with the first homes expected to be completed by May 2021.
Find out more at https://www.innes-england.com or join the conversation at @InnesEngland.
