Homes England has signed an agreement to acquire the Broad Marsh site from Nottingham City Council in the UK, paving the way for the city’s regeneration.
This move will facilitate the development of numerous homes and commercial spaces, as well as the creation of full-time jobs.
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Homes England, the national government’s housing and regeneration agency, will soon own the former shopping centre plus adjacent land, a multistorey car park, Severns House, and a former college site.
The next stage of development will focus on preparing the site for private-sector involvement.
Demolition and other enabling works will be undertaken to de-risk the site, then securing developers with a history of executing city centre projects.
The redevelopment plans for Broad Marsh are intended to deliver approximately 1,000 homes and up to 20,000m² of mixed-use space, including retail, office, and community areas.
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By GlobalDataThe project is also expected to generate approximately 2,000 full-time jobs.
The project will see investment from the East Midlands Combined County Authority (EMCCA), which aligns with the government’s new devolution arrangements.
Homes England will continue a close partnership with the local council to ensure the vision for Broad Marsh is achieved.
The agency will also continue to engage with residents, partners, and stakeholders, building on the council’s efforts to further the project’s delivery.
Recently, England’s Bath & North East Somerset Council secured a further £18.2m ($23.4m) from Homes England’s Housing Infrastructure Fund. This funding will support the sustainable redevelopment of the long-derelict Bath Gasworks site.
