Covid-19 Impacts PBSA Valuation
27th Jan 2021
Nottingham City Council has this week signed off on plans to sell the Guildhall building on Burton Street to private developer Miller Birch, despite the fact that the council doesn't want it to be converted into student accommodation.
Whilst initial plans were to sell get a hotelier interested in the site, deputy leader of the council Graham Chapman has stated, "there will inevitably be, because of the marketplace being the way it is, student housing. It would not be our first preference, but in order to get the site away, that is what we have had to do." The site will house a variety of other developments, including conference facilities either way however.
Development director at Miller Birch, Mark Bielby, admits that the site is ideally placed for student accommodation. "Where the site is next to Nottingham Trent University, it is natural to have student accommodation there. Perhaps Councillor Chapman has seen other projects not go to his liking, but this will be quality like everything else we have done."
He stresses however that student accommodation is far from a foregone conclusion. "It is obviously an aspiration to get a high quality hotel there. We are on the same page as the council in this regard, as there are a plethora of budget hotels in Nottingham, but only a few examples of these higher end establishments. But next to one of the best conference centres in the region, it will be a premier place to be based."
27th Jan 2021
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