Leeds developer expands into Midlands with £25m apartment scheme

Yorkshire developer KMRE Group is expanding into the Midlands.

The Leeds-headquartered company has acquired a 1.5-acre site on the banks of the River Trent in Nottingham for a new 81-apartment scheme.

The £25m development, to be called Riverside, will be built this summer by Hollycroft Construction on the former Park Yacht Club site.

Nottingham-based estate agent FHP Living will market the properties – a mix of one-, two- and three-bedroom apartments and penthouses.

The acquisition is part of KMRE’s plans to expand its portfolio across the Midlands and invest in major cities.

KMRE’s managing director, Kam Mogul, said: “As a Leeds-based developer we have a strong desire to deliver renowned schemes into the city we know and love – and our expertise has brought success.

“The renaissance of Leeds over the last decade has gathered pace and we are proud to be part of that.”

Kam continued: “We have delivered residential schemes all over Yorkshire and 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. 2018 is set to be a pivotal year for the city in terms of development, with several regeneration projects getting underway.”

Property services giant Colliers International acted for KMRE on the acquisition.

Richard Watson, director at Colliers, commented: “We are delighted to have acted on behalf of the KMRE Group on the acquisition of the former Nottingham Yacht Club.

“Located on the waterfront between Riverside Crescent and the Trent Basin development, this prestige development of apartments overlooking the River Trent will become a very desirable place to live.”

FHP Property Consultants represented the vendor.

Steve Parker of FHP’s residential arm, FHP Living, said of the transaction: “We are delighted to welcome KMRE to Nottingham and the Midlands.

“The prestigious properties will be welcomed by local people looking to buy well-appointed homes close to the city and also the desirable area of West Bridgford and Trent Bridge Cricket Ground.”

Planning for the scheme was granted earlier this year.