The Southbank Bar will be part of a £22 million development scheme coming to the banks of the Trent in West Bridgford.
On behalf of Rushcliffe Borough Council, Savills jointly with FHP, has sold the freehold of Bridgford House (formerly the Council’s Civic Centre) in West Bridgford Nottingham to Monk Estates and Harpin Limited for £6.95 million.
Set across 1.55 acres (0.6 hectares), the site comprises two restaurant units occupied by The Southbank Bar and Trattoria Antonio Restaurant, which total 6,015 sq ft (558 sq m), a partially tenanted 76,766 sq ft (7,131 sq m) eight storey office building and 10 residential apartments. Together the building generates an annual rental income of £181,098.
Victor Ktori, head of office at Savills Nottingham, comments: “Situated in a prime waterside location just outside of Nottingham city centre, Bridgford House offered a unique opportunity to acquire a part income producing investment suitable for future refurbishment or redevelopment.”
Councillor Neil Clarke Leader of Rushcliffe Borough Council, adds: “The Council has been focussed upon ensuring that the best possible future for this landmark building is secured, whilst also securing the best possible value for taxpayers. We are confident that Harpin and Monk Estates will work positively with existing tenants during the process of redevelopment and we look forward to working positively with them to establish an exciting offer for this important area of the sporting quarter of Nottingham.”
Sam Monk of Monk Estates, adds: “We are delighted to be redeveloping such a prominent and important land mark building in West Bridgford. It’s a unique opportunity to create an exceptional high quality mixed use scheme which will boast stunning panoramic views of the river Trent and the surrounding areas. As a Nottingham based family business we are proud to be given this opportunity and we look forward to working closely with Rushcliffe Borough Council and Harpin Limited.”