Homes England has agreed a deal to purchase the former Broad Marsh shopping centre site in Nottingham from Nottingham City Council for an undisclosed price.
The agency will acquire the council-owned site as well as land to the west of the Green Heart, a multi-storey car park, Severns House and a former college site.
The redevelopment of the site is expected to deliver around 1,000 homes and up to 20,000 sq m (circa 215,000 sq ft) of retail, office and community spaces.
The next stage of development will involve derisking the site through demolition and enabling works.
Eamonn Boylan, chief executive of Homes England, said: “The acquisition of Broad Marsh is a major milestone in the city council’s vision of regeneration for this area of Nottingham. We have worked closely with the council since 2022 to provide professional advice and support. Now that we have acquired the site, our teams will be working with partners to attract the right developer to deliver the new homes, employment spaces and leisure facilities necessary to create a vibrant city centre neighbourhood that the people of Nottingham can be proud of.
“Broad Marsh is Nottingham’s top priority regeneration project, with significant progress already made by Nottingham City Council in advancing its vision. Key achievements include the establishment of a new Nottingham College hub, the opening of the Central Library, Broad Marsh bus station, car park, and, most recently, the completion of the Green Heart public realm.”
Councillor Neghat Khan, leader of Nottingham City Council, added: “It’s great to finally reveal the name of the buyer for such an important site. I have confidence in Homes England and the work they have already delivered across the country. This is really positive news for Nottingham and marks the start of a major redevelopment for this key part of our city. We know that people have wanted to see progress here for a long time and we understand that it has been a frustration for some that this hasn’t happened.
“We’re excited by the plans that Homes England has, and we look forward to working closely with them to bring these to fruition. The project will also benefit from investment by the East Midlands Combined County Authority, underlining Broad Marsh’s strategic significance to the region and showcasing the collaboration of organisations skilled in delivering complex regeneration projects, in line with the government’s new devolution arrangements.”
The mayor of the East Midlands, Claire Ward, said: “Homes England’s purchase of Broad Marsh is an investment into the future of Nottingham – a future that the people of Nottingham have been asking for and the city council has been pushing for, which can now be realised. As the mayor of the East Midlands, I have been pleased to lead EMCCA into investing its resources so that this purchase could occur. This is exactly what the region expected when it chose to have a directly elected mayor, and EMCCA will continue to work closely with Homes England as they transform the area.”
