Yahoo News City centre built-to-rent development with more than 110 homes completed
A new residential development has been completed in Nottingham city centre, with developers aiming to make rent affordable for all. The Lace Market Quarter is a built-to-rent development located at 10 Short Hill.
The works have seen the partial refurbishment of Grade II listed buildings and a partial new build. It comprises 117 studio, one bed, and tow bed flats for rent across four adjacent blocks.
These are linked by a central, communal landscaped courtyard. The units mixed along with 27 lower ground parking spaces meet the strong demand in the Nottingham market.
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The developer, Edmond de Rothschild Real Estate Investment Management (REIM), expects to achieve rents that are affordable for the majority of the population in the local market seeking rented accommodation.
James Whidborne, Head of residential fund management UK at Edmond de Rothschild REIM, said: "This is our second PRS project in Nottingham after Saffron Court, which reflects our enthusiasm for the city. Half of the population is under the age of 29, with very high graduate retention and a thriving biotech, life sciences and service sector industry.
"Demand for homes to rent is very high and we expect strong demand for our apartments." The development is managed and operated by Edmond de Rothschild REIM’s in-house private rental sector platform and builds on the success of Saffron Court, its first development in Nottingham.
Zoe Innes, head of lettings, residential UK, at Edmond de Rothschild REIM, said: "We are very excited to launch the Lace Market Quarter, which due to its city centre location, the unique character within each of the flats and the quality of finish is already attracting young professionals. The unusual mix of charming period conversion apartments in the two listed buildings and the new build section with far-reaching views of the city combines with the benefits and convenience of build-to-rent living."
