The development by pharmacy chain Boots, alongside its UK headquarters, is being billed as the country鈥檚 largest low-rise modular housing development to date.
The deal, brokered by Blackstar Advisory, will unlock a 43-acre housing site along the Beeston canal that is part of the wider 286-acre Nottingham Enterprise Zone.
Boots UK, these days part of the Walgreens Boots Alliance Group, selected Ilke Homes to develop the site. It is the first time that Boots has released any part of its Nottingham site holdings for housing, even though this area has been allocated for residential development since 2014.
Ilke Homes will work with its architect HTA Design to produce a 鈥榤odel village鈥� that will become Ilke鈥檚 flagship site. The proposed scheme will seek to deliver 505 factory-made houses and 117 apartments.
All 505 homes will have an energy performance certificate (EPC) rating of at least a 鈥楤鈥�, Ilke said, making them more energy-efficient than 92% of UK new-builds.
While the deal remains subject to reserved matters planning consent, Ilke Homes will act as a full turnkey developer, managing the entire development process from securing the land deal and planning permission, through to developing the site and delivering the homes.
Tom Heathcote, executive director of development at Ilke Homes, said: 鈥淭his site represents a truly special opportunity to create a unique and sustainable housing development within the established Nottingham conurbations. The site is steeped in rich heritage and has been a central part of Boots鈥� success story over the last few decades, so we are incredibly excited for the opportunity to work alongside Boots, HTA Design, and the local stakeholders at both Broxtowe Borough and Nottingham City Councils to truly transform this redundant industrial space into a well-designed new community and provide better homes in a better way."
Boots UK director of estates Mark Chivers said: 鈥淏ecause of the historical significance of this site and everything it represents in terms of our company heritage it was vital that we find the right partner. I am pleased that the site will be put to good use and look forward to seeing a thriving community emerge there in the coming years.鈥�
Got a story? Email news@theconstructionindex.co.uk
