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Nottingham City Council's New Local Plan: 5 Key Points for Landlords and Investors

11th Feb 2020

Category: Nottingham General Interest

Nottingham City Council’s new Land and Planning Policy Development Plan provides an insight into the key planning policies for Nottingham City Council in the coming years. It is vital in helping investors understand the areas of opportunity and the potential opposition they could face for certain types of property developments in Nottingham.

It’s a long document, so we’ve pulled out 5 key points we think investors should be interested in…

  • Environmental Impact at the Centre of the Plan:

Nottingham City Council is putting a huge emphasis on combating climate change. It’s racing to become one of the first cities in the UK to be carbon neutral by 2028. It’s therefore no surprise that climate change takes centre stage in the plan. For developers the message is clear: energy efficient buildings and sustainable design should be at the forefront of all domestic and non-domestic development plans.

  • Local Economy:

Ambitious plans for the local economy are outlined in the document. The council aim to grow the Nottingham economy by up to £500m over the next ten years and to create 55,000 jobs by 2023. This is positive news for investors who can hope to see higher rental demand and more reliable tenants through job creation in the city.

  • Retail and Leisure Facilities:

Nottingham’s retail offer has struggled in recent years with protracted uncertainty about the remodelling of Broadmarsh resulting in a sustained period of under investment in the area. It only takes a quick drive down Collin Street to see that these historical problems are now being addressed and the Council says it will be focusing on getting Broadmarsh finished and enhancing the vitality and viability of the city centre shops. This will undoubtedly be positive for the city centre as a whole, making it a more attractive proposition for young professional renters. Alongside the ambitious plans for the city centre are also plans for local markets and high-streets- recognising their importance for smaller businesses and their contribution to the individual character of the city.

  • Regeneration Encouraged Across the City Centre:

The plan places special interest in the refurbishment of historic buildings and sensitive new developments (including both business and housing) for the Canal Quarter, Creative Quarter, Castle Quarter and Royal Quarter. This section of the policy is worth a read if you have a particular interest in one of these areas of the city (see pages 58-76).

  • HMOs vs Purpose Built Student Accommodation:

There's no way around it, HMOs are not painted in a positive light in the plan. The Council believes there is currently an imbalance in housing stock, and they’ve stated that they will continue to protect C3 use housing… “family housing should be retained unless there are exceptional circumstances where it may not be appropriate to do so.” This will undoubtedly lead to an increase in purpose-built student housing, and it’s no surprise that the housing plan does indeed encourage this. Purpose built blocks are encouraged in all but the Castle and Royal quarters. If you’re looking to invest in HMOs in Nottingham, please do get in touch with us for advice.

To find out more, you can take a look at the full document here.

Lindsay

Lettings Manager (NFOPP Level 3)

Life-long Nottingham resident Lindsay previously worked as a Senior Negotiator at a fast-paced, multi-branch letting agency. She is fantastically skilled in all aspects of the lettings process and great at building relationships with our landlords. She is excited to dive into her new role as Lettings Manager and has recently completed the Technical Award Level 3 in Residential Lettings and Property Management with ARLA Propertymark.

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