Christie & Co sell Lakeside in Nottingham
Specialist business property advisor, Christie & Co have successfully completed on the sale of Lakeside, a closed wedding venue, restaurant and leisure facility located on the A60, north of Nottingham.
The 5.90-acre site comprises a stunning Grade II* former Victorian pumping station, along with a Grade II Listed five-bedroom cottage. Originally converted in the 1990s, the property has been closed since November 2017 but has been sold with the benefit of planning for a 29-bedroom hotel development.
Lakeside is situated in a beautiful location and enjoyed a good local reputation until the business closed in November 2017. The potential to develop a hotel on-site presents a real opportunity to add value to the business, particularly as a wedding venue.
The site has been purchased by local businessman Richard Berridge, who intends to invest in the property and reopen it as a hospitality business. Commenting on the sale, Richard said, “Lakeside is a beautiful property that has unfortunately fallen into disrepair over the past couple of years. Our intention is to invest in excess of £5m to refurbish the property back to its former glory. Work is well underway already to turn Lakeside into a large wedding venue, along with a bar/restaurant with hospitality facilities. One thing which we are very keen to do as part of the refurbishment is to open the tower for viewing, as having personally climbed the 75 steps to the top I can certainly say the views are amazing. If there are no significant delays the plan is to re-open towards the end of Autumn 2020."
Gavin Webb, Senior Business Agent at Christie & Co comments, "I was impressed by the enthusiasm shown by Richard and his obvious passion to secure the venue and restore it to its former glory. We received a significant amount of interest in this site throughout the marketing process and I am delighted to have achieved a positive outcome for my client. This underlines the demand in the market for hospitality opportunities around Nottingham."
Lakeside was marketed off an asking price in excess of £1,250,000.
For further information on this press release, contact:
Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: fiona.fieldhouse@christie.com
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