A derelict Jobcentre Plus building which has stood empty for more than two years is being transformed into flats.
The building in Lombard Street, Newark, named Crown House, has been sold to Nottingham-based developer 2GP Ltd.
The 1970s concrete-framed building was sold by Nottingham commercial property estate agents and consultants FHP for an undisclosed sum.
The agent says a year-long process to sell the site was lengthy due to the sellers taking some time to free up the property, which was part of a portfolio of other sites.
Now work is set to start on transforming the former three-storey office building into 18 one-bedroom apartments.
2GP says by carrying out the ambitious project it will revamp part of Lombard Street, which has been forgotten since the centre closure.
Paul Giles, managing director at Auction Estates, which acquired the building on behalf of 2GP, said: “Newark is a very strong market town with great connections to London on the East Coast Mainline. There aren’t many historic market towns which continue their market tradition, which is what makes Newark so unique.
“Train connectivity is fantastic, and when teamed with its visual appeal, Newark has a very strong traditional sales market, and a buoyant rental market to boot.”
Planning permission for the new apartments was granted by Newark and Sherwood District Council in October 2019.
The apartments are expected to come to the market early next year.
The team behind the project have also been involved with developments such as the transformation of St Peter's House in Derby into apartments, which is expected to be in a similar vein to those being created in Newark.
Arran Bailey, director at 2GP, said: "We are thrilled to be able to finally start work, after a year of complex negotiations and a lot of patience.
“This will be a high quality housing project, which will really boost that part of Newark. We are raring to go.”
2GP co-director Edward Hall added: "This is a well-known prominent building as you enter the town centre of Newark which is crying out for redevelopment. It will now be brought back to life with style and quality."
