Waterside regeneration underway6 November 2007 A major gateway site in Nottingham's Water-side Regeneration Zone is being promoted as a catalyst for change.
Cedar House Investments, purchasers of the five-acre Sunlight Laundry in Daleside Road, Nottingham, said demolition was complete and marketing had started.
The development, branded East Point Business Park, is expected to be a landmark for the area - the first to attract high-quality occupiers to Waterside.
The site, based at the eastern gateway to the city, could attract a range of uses including offices, hotel, leisure and industrial.
Justin Sheldon, Cedar House Investments' development manager, said: "Before we purchased the site in the summer, the former laundry had been discussed for some time. We got to work immediately on the demolition.
"It has taken just two months to get the site cleared and ready for marketing."
Marc Cole, chief executive of Nottingham Waterside Limited (NWL), a partnership of Nottingham Regeneration Limited (NRL), and British Waterways, said: "NWL is delighted to see that preparatory work is under way on the redevelopment of this important gateway location in the Waterside Regeneration Area and we look forward to working closely with Cedar House Investments to secure a high-quality development on this site."
East Point, which is one mile to the east of the city centre, could become a prominent mixed-use scheme and Cedar House said there had already been interest.
Mr Sheldon added: "East Point has a strategic location approaching the city from the east and its position is creating interest.
"We are now well into the marketing phase following which we will finalise our master plan which could see our investment top £20m. We anticipate a start on site before the end of the year."
Waterside extends to 100 hectares alongside the River Trent. Total investment is expected to exceed £390m for the ISIS Waterside Regeneration scheme.
Outline planning has been granted for the Trent Basin scheme, between Nottingham Canal to the west and the racecourse to the east. It will transform one of the city's most rundown areas into a modern riverside community, with flats and houses, offices, shops, bars, restaurants and waterside facilities.
Work on phase one of Trent Basin is expected to begin next year - and could take around two years to complete. There will be a stunning new 28-acre waterfront housing district, together with a riverside promenade, boater facilities, shops, a community centre and recreation spaces.
Source:Nottingham Evening Post|