Development update – luxury riverside apartment and 19 acres of land for sale

20 November 2020 | Investment

Construction works are in progress on the ‘The Yacht Club’ – an exclusive 81-home development on the banks of the river Trent by KMRE Group Ltd.

Located in a prime waterside location to the south of Trent Lane, Nottingham, the Yacht Club will offer residents one, two and three-bedroom apartments, including penthouses. Prices start from £310,000 to £550,000. It is already 40% sold.

The development comprises three stand-alone buildings, with each of the 81 apartments benefitting from large panoramic windows and its own balcony or terrace, with ‘stunning views’ up and down the river. 

Penthouses have distinctively larger living spaces with sweeping terraces boasting ‘optimal views’ of the River Trent and Nottingham skyline.

There will also be attractive outdoor spaces and footpaths along the river to the front of the buildings for residents to enjoy.

Speculative plans have been put forward for a pedestrian footbridge to be built over the River Trent in the next couple of years to cater to the growing waterside residential communities.

Construction works involve a phased completion, with the first practical completion in March 2021, and a full handover of the site expected by summer 2021.

A show suite will be available for private viewings from the end of November, allowing prospective buyers to get a glimpse into exclusive waterside living. It will also provide the first opportunity for confirmed buyers to personalise and upgrade apartments.

The Yacht Club will also include on-site parking for every apartment and vibrant outdoor communal spaces.

It marks the first of KMRE Group’s landmark ‘Southern Gateway’ developments in Nottingham, which also includes the 62-apartment Hindle House residential scheme.

Kam Mogul, managing director at KMRE Group Ltd, comments: “These homes boast unrivalled picturesque views of the water and the tranquil Hook nature reserve in Lady Bay, and are a pivotal part of the ongoing waterfront regeneration on the banks of the River Trent, offering a premium waterside living experience with a community feel, that really connects you with nature.”

“During these challenging times, we remain completely committed to the Nottingham market and construction works at The Yacht Club are progressing on track, with the show home due to open in the next few weeks for appointments with interested buyers.”

David Hargreaves, director at selling agent FHP Living, adds: “We are pleased to see how quickly the building works are now progressing, particularly through these difficult times of lockdown. Now more than ever people are looking for homes close to nature, with outside space and scope to work from home, and being on the banks of the river, there is an abundance of nature on your doorstep at The Yacht Club.”

“The development is a welcome addition to the Riverside area and the team at FHP Living are looking forward to showing potential owner occupiers and investors around the new show suite shortly.”

In other development news, four Midlands development sites have been brought to the market by national property consultancy, Carter Jonas, on behalf of Severn Trent.

The sites – part of Severn Trent’s disposal programme – range in size and value and are all non-operational in terms of its water and sewage business, and benefit from vacant possession.

Located in Oldbury, 8.5 acres (3.43 hectares) of land is available on Roway Lane. It has prospects for residential development and other uses, subject to necessary consents, and good access to the M5. The site, a former treatment works, is mainly scrubland.

In Sutton-in-Ashfield, 5.55 acres (2.24 hectares) of greenfield land is available, immediately south of the sewage works. The site has easy access via Coxmoor Road which interconnects directly with the A38. Subject to the necessary consents, the land has the potential for employment development use.

Some 4.35 acres (1.76 hectares) is available on Uttoxeter Road, Stoke. The site fronts the A50 and links to junction 15 of the M6. Situated within a relatively mixed-use area, it could accommodate several uses, including employment, quasi retail, and residential development.

Additionally, offers are invited on 0.73 acres (0.29 hectares) of industrial development land in Pirehill, Stone. The site has ‘excellent’ prospects for a range of employment uses, subject to consent. Notable occupiers within the surrounding area include XPO Logistics, Royal Mail Group, Woolcool, Delice de France PLC and Schneider Electric UK.

Caroline Penn-Smith, Partner, at Carter Jonas Birmingham, comments: “There is a healthy demand for development land within the region and each of these sites offer excellent prospects to potential purchasers.”

“Thanks to their historic use within the Severn Trent portfolio, each has the advantage of being well located and accessible, within easy reach of wider infrastructure networks and employment areas. The properties are likely to appeal to a wide range of investors and developers, especially given the variety of land available.”

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–> This post has originally been featured in Property Investor Today.