Developers yesterday started work on Nottingham´s largest privately – funded apartment complex.
The £55m Litmus Project in Huntingdon Street is being built by specialist developer Lace Market Properties.
And it is being hailed by regeneration chiefs as one of the first steps in rebirth of the city´s Eastside area.
The ground-breaking ceremony was carried out yesterday by Aran Verling, deputy managing director of construction company Laing O´Rourke.
Besides building Litmus, Laing O´Rourke is partner in the consortium that has put forward plans for the regeneration of the Eastside zone, the firm working with Roxylight Developments on the £900m, 34-acre first phase.
The start of work on the Litmus project has been welcomed by Nottingham Regeneration, which is overseeing the development of the city´s three major regeneration zones – Eastside, Southside and Waterside.
Ken Grundy, chairman of Nottingham Regeneration´s Eastside sub-group, said: ´The developments undertaken by Lace Market Properties in Huntingdon Street and in the Litmus Building in particular mark a major step forward in the delivery in the masterplan for the Eastside.
´Lace Market Properties is making a massive contribution to the regeneration of Nottingham, which is helping to change the face of the city.
´Mark Elliott, together with co- chairman Mark Cavell and their team are to be congratulated on their investment in the future of Nottingham.´
His comments were echoed by Gordon Mitchell, chief executive of Nottingham City Council, who was also present at the ground-breaking ceremony. He said: ´the interest already shown in the Litmus complex even before construction has begun bodes well fro the long-term success of the whole Eastside regeneration zone.
Lace Market Properties´ managing director Mark Elliott, – who received the engraved ground-breaking spade from Aran Verling said: ´It gives me great pleasure to launch this prestigious development.
´There has been a vibrant city living market in Nottingham for a number of years now, and our research has told us that his demand continues to grow.
´Our brief is to listen to our prospective customers and ensure that we design the living space to meet there needs.
´We are confident that the design plans we have for The Litmus Building will make it one of the most desired addresses in the city.´
Aran Verling said: ´we are delighted to be associated with another significant project in Nottingham which further cements our position as being the leading contractor in construction of high quality residential projects.´
Even though work has only just begun on site, more than £30m of the £55m scheme has already been pre-sold.
Lace Market Properties has been involved in a large number of city living developments over the years, turning former factories and warehouses into apartment buildings. But the 15-storey, 300-apartment Litmus is its largest new-build scheme – and the largest to be built in Nottingham. The development will feature one and two-bedroom apartments, and has car parking, a gymnasium, swimming pool, sauna and steam rooms. There is also 24-hour staffed reception. The average price of a one-bed-room apartment in Litmus is £160,000, with two-bedroom apartment going for £200,000.
The scheme is being built within the Eastside regeneration zone, and takes its name from an array of coloured fins designed to resemble litmus paper.
Litmus has been designed by Nottingham architects CPMG. The engineers are theBWB Partnership, also from Nottingham.