The £10m Lace Market Square development is at the centre of the Conservation Area and is bounded by Warser Gate, St Mary's Gate and St Mary's Place and adjacent to the new No.1 Fletcher Gate development.

The contemporary scheme, designed by architects Franklin Ellis, will be a showcase for the area, offering top quality accommodation for A1 and A3 use. The principal building at the northern end of the site will offer 640 sq m at ground floor level for retail or A3 use. There will also be five upper floors containing 46 luxury apartments of one and two bedrooms and these will be specifically targeted at the owner-occupier market.

The second building will comprise a two storey glazed "pavilion" of approximately 432 sq m and which it is expected will be occupied as a high quality restaurant. Providing an active ground floor frontage to the new public square has been imperative to Bildurn and the City Council.

The focal point will be an open space of area over 11,000sqft. The square itself will be surfaced in high quality materials with soft landscaping features, quality outdoor furniture and being the only public open space in the Lace Market and is expected to become and important meeting place.

There will be secure underground parking facilities for approximately 70 cars together with cycle storage.
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Work is expected to start on the site in the spring and the scheme will be complete in summer 2006.

Nottingham City Council has played an important role in the development of this new scheme, working with Bildurn and other developers in the area to encourage their financial support for the project.

The Akins Group has meticulously acquired substantial portfolio of investment property and development sites in Nottingham over the past 30 years. Following the sale of the Group's bookmaking division to Coral in 2003 the investment aspirations of the Group are now set to continue with the unveiling of Lace Market Square. The scheme follows the group's redevelopment of the 1-9 Bridlesmith Gate to incorporate the 40,000sqft Waterstones which won the Lord Mayors design award.

A planning application has recently been lodged with the City Council for and it is hoped that full planning consent will be granted in early 2005.

Sean Akins, Director of Bildurn added, "This is the last genuine residential development site in the centre of Nottingham and specifically the Lace Market and is a fantastic city living project. The Lace Market Square has been a complex project to get off the ground but we are excited about the prospects for the scheme and what it will bring to the City.

"We feel that the development represents the last major piece of the Lace market regeneration that began in earnest in the early 1990s and are very much looking forward to delivering this project and, with our growing emphasis on property enterprise, moving on to other major developments in the area"

Ray Valenti, Senior Partner of Nattrass Giles has been involved in this project since it was first conceived. His firm is retained as development consultants and letting agents for the commercial space in the scheme. "Our involvement actually dates back to the mid-1980's when we sold the main part of the site to Bildurn and we have been advising on development possibilities ever since. It was used for car parking for many years but following the City Councils' proposals for comprehensive development of the area and the delivery of the adjoining Taylor Woodrow scheme the prospect of this project has now become a reality.

"The site occupies a first class location in the centre of the Lace Market Quarter and as such will have easy access to the bars and restaurants which have become established in the area during recent years. In addition it is just a few yards away from the first tram route which offers quick access to the Midland Railway Station."

FPD Savills Nottingham office has been appointed to market the apartments. Jonathan Pearson, Head of New Homes comments "This superb development has the distinction of being the last true development site in the Lace Market and provides a fitting landmark setting that underlines the importance of the Lace Market both as a heritage location and its newly evolved role as a prime residential location within the city".

ENDS

For further PR information contact Eden PR on 0115 852 4717, fax 0115 950 9175 or contact Kathryn Harrison, Kathryn@edenpr.co.uk
or
Ray Valenti at Nattrass Giles, tel: 0115 958 8599, e-mail: rev@natgiles.co.uk.
or
Sean Akins at Bildurn Properties Limited, tel: 0115 941 3366 or e-mail: sean@bildurnproperties.co.uk.