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Cassidy has placed its Chainey Place development on London Road in Nottingham on the market for £3.9 million. The site has received planning permission for either 122 private rented sector apartments or 245 purpose-built student accommodation beds.
In a statement, Cassidy highlighted that the development would address the growing demand for quality apartments in this part of the city, which is reflected in the significant annual rent increases. The project is also expected to appeal to mature and international students.
Cassidy originally revealed its plans for the Chainey Place site in February 2023, after previously receiving approval for the construction of 122 apartments. The developer is offering flexibility regarding the sale, including the option to purchase the clean SPV that holds the freehold land, which would create a stamp duty saving. Additionally, Cassidy is open to staged payment options, such as 80/90% upon completion, with the remaining balance payable later, provided securities or guarantees are offered.
