Investment Property

New investment and development in Ashfield and Mansfield

New investment and development in Ashfield and Mansfield

Over recent months there has been a steady stream of new investment and development in Ashfield and Mansfield.  Just in case you haven’t heard, here’s a brief summary of what’s been happening lately…

Ada Lovelace House

This landmark building in Kirkby has recently been transformed into a centre for fledgling businesses.  Conveniently located on Urban Road, Ada Lovelace House has just undergone a £280,000 renovation.  As a result, it now offers seven spaces for local start-up businesses and small to medium-sized enterprises.

Ada Lovelace was not only the daughter of the poet Lord Byron.  She was also a pioneer in the world of maths and is commonly regarded as the first computer programmer.

Councillor Cheryl Butler is the Leader of Ashfield District Council.  Cheryl said: “It was a real pleasure to officially open the building on Ada Lovelace day.  This redevelopment represents a fantastic addition to both Kirkby town centre and the whole Ashfield district.”

Furthermore, the renovation works were carried out by local construction firm Robert Woodhead.  During this time, they offered work experience to 14 young people while at the site.

Find out more about Ada Lovelace House and its opportunities.  Alternatively, contact Matthew Kirk (Commercial Property Manager) on 01623 457277 or Nigel Gregory (Commercial Property Officer) on 01623 457514.

New hotel for Mansfield

A much-needed major hotel has moved a step closer with a preferred partner selected for the former bus station’s redevelopment.

Arba Group

The preferred bidder for the site on Stockwell Gate North has recently been revealed as Arba Group.  The firm plans to build an 80-bed hotel with roof terrace, restaurant, café, bar and gym. The proposed scheme also includes a piazza, open space and other landscaping.

Local firm Arba Group, based on The Broadway in Mansfield, is in negotiations with Mansfield District Council and national hotel, food and drinks operators.  The aim is to bring these plans to fruition over the next two years.  The company specialises in retail, leisure and industrial development.  Furthermore, its senior management team has over 70 years’ combined experience in property development, estate management and construction.

Arba Group has an excellent track record of delivering projects.  Indeed, they recently acquired and redeveloped the former Lloyds Bank building on Stockwell Gate, now trading as Capo Lounge.  It has also recently developed 80,000sq ft offices at Meadowhall in Sheffield.

Council’s regeneration vision

Cllr Roger Sutcliffe, Portfolio Holder for Finance, took a delegated decision to dispose of the former bus station site.  In a report by the Director of Economic Growth, Mike Robinson, the site at Stockwell Gate North is declared surplus.  Furthermore, it is recommended that it is sold to the Arba Group.

The council has continually looked for opportunities to redevelop the site since the old bus station was relocated in 2013.  In 2017, the council asked for expressions of interest from developers to buy the site.  And develop it according to the council’s regeneration aims.  This resulted in two formal submissions to Colliers.  Colliers acted as the council’s development agents, appointed to help secure a successful developer and end users.  The two submissions included one from Arba Group and one from Mr John Radford, Chairman of Mansfield Town Football Club.

The Arba Group’s plans offer strong links to the town centre with a direct hotel entrance from Stockwell Gate.  This combination of a quality hotel, other leisure uses and strong links to the town centre will significantly increase visitor numbers.  The chosen proposal also gives the council the option to buy back the completed development.  Indeed, this has the potential to form part of the council’s long-term investment strategy.  Further investigation into this will take place at a later date.

Kate Allsop is Executive Mayor of Mansfield.  Kate commented: “We are very excited that our long-term regeneration vision for the town centre and desire for a much-needed hotel in Mansfield are moving forward.  This key gateway site’s redevelopment will make the town centre an even more inviting and enjoyable place to visit.  And, in turn, help to create a thriving, vibrant and sustainable district.”

Performance Health International

Tim Gilbertson of FHP has secured another letting of over 40,000ft² of prime space, on Sherwood Business Park at Junction 27 of the M1 Motorway.  With joint agents NG Chartered Surveyors, Tim was appointed to dispose of this excellent warehouse.  Conveniently situated just off the M1, this property benefited from large yard and car park and superbly presented warehouse space.

This deal sees Performance Health International take an additional facility to augment their state-of-the-art distribution base at Junction 28 of the M1.  In a market starved of good quality space this is one of the few buildings that has been available in recent times.

Tim Gilbertson commented: “Having moved over 160,000ft² of space up and down the M1 over the last few months, it is great to see another high calibre occupier becoming a tenant.  However, of course this also means that the market is deprived of much needed quality stock.

This deal ran smoothly throughout and Performance Health International have been a real pleasure to deal with.  I wish them well for their future ongoing growth and undoubted success.  Indeed, commercial property demand in Ashfield and Mansfield remains strong.”

For further information, please contact Tim Gilbertson on 0115 950 7577.

Feeling inspired?  If you would like to find out more about whether Ashfield and Mansfield could help your business grow, contact us.  Alternatively, you can look for your own premises on our commercial property database  or find out more about the grants we offer.
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