Developer KMRE Group has announced it has acquired a 1.5 acre site on the banks of the River Trent in Nottingham.
KMRE has purchased the site, which will be called Riverside, to create 81 exclusive waterfront apartments and penthouses delivered to a high specification.
The move is part of KMRE’s ambitious plans to expand its portfolio across the Midlands and invest into major cities, including Nottingham.
KMRE has appointed Hollycroft Construction who will start building in the summer on the former Park Yacht Club site. Nottingham estate agent FHP Living will be begin marketing the properties immediately.
The exclusive residential development is located adjacent to Blueprint’s Trent Basin development and near to the well-established River Crescent apartment scheme and will form an important part of a revitalised waterside in this area of Nottingham.
Kam Mogul, managing director of KMRE, said: “We are a Leeds-based developer which has delivered similar residential schemes throughout Yorkshire and our expertise has brought success.
“We are now looking further afield to create high-end living accommodation. Our sights were set on Nottingham when we saw the huge potential for waterfront living in the city.
The Riverside site lies at the southern end of Trent Lane in Nottingham fronting the river and is located less than a mile from the city centre. The site is within 200 metres of the Eastpoint Retail Park and the upcoming waterfront apartments will overlook The Hook nature reserve and the many Victorian properties in Lady Bay.
Planning was acquired on the scheme earlier this year and the deal completed in April.
KMRE’s Riverside development will feature one, two and three-bedroom apartments from £165,000 and bespoke interior-designed penthouses starting from £500,000.