A £17.4 million project to build 150 apartments on a derelict Victorian warehouse site in Nottingham has moved forward after developers bought the land.
A mix of studio and one and two-bedroom flats are planned to transform the site between Hooters and the London Road Fire Station.
The estate agent FHP has worked on behalf of the landowners to sell the site to the Cassidy Group.
The project, called Chainey Place, is expected to target professionals.
David Hargreaves, of FHP, said the sale marked "another step forward in the regeneration of the southern part of the city".
“The challenge was incorporating the derelict building into the new build scheme, and both Cassidy and Mabers deserve huge credit for achieving this," he added.
A planning application for the scheme was approved in June and work could start early next year with the project likely to be completed by 2021.
On the site there is currently a hand car wash and a derelict factory unit.
The plot will be cleared except for the factory building, which will be retained and included within the design, the confirmed.
The scheme will deliver apartments for rent and a gym is also included as part of the vast project.
Geldards acted with FHP for the vendor.
Speaking previously about the plans, passersby said "new apartments will bring new people into Nottingham, support local businesses and allow an alternative for commuters".
Business leaders also said they were pleased to see historic buildings repurposed.
It comes after the Cassidy Group worked to deliver a 350-apartment complex called Saffron Court behind the Hicking Building nearby.
The site was handed over in the summer and the building is already occupied.
Rosey Cassidy, land manager for the Cassidy Group said: "Cassidy Group are very excited about the Chainey Place development which will bring much-needed high-quality accommodation to the area.
"Nottingham is one of the highest performing cities in the UK for investment and rental returns and this scheme will be delivered following the successful launch of our Saffron Court development adjacent for 350 apartments.
"Cassidy’s are committed to further developments within the city of Nottingham with several further schemes in the planning stage."
