Land next to Wilford Toll Bridge has been sold and the site will be developed to provide new apartments on the riverside.
Planning on the land gives consent for 42 units.
The site in Riverside Way, next to Wilford Toll Bridge, overlooks the River Trent.
David Hargreaves of FHP Property Consultants, who sold the site on behalf of Gilbert & Hall to developers Unitech Plus, said: “This is a really clever site overlooking the River Trent, just 30 metres from Victoria Embankment and with a Tram Stop on its doorstep.
"Paul Tewson and Chris Hall of Gilbert & Hall had worked with Steve Rayner of Rayner Davies to secure Planning Consent for the redevelopment of the old industrial units and have secured planning consent for a stunning 42 unit - 30,000 sq ft apartment scheme including 24 Duplex Apartments."
Paul Tewson explained that the sale of the riverside project has been delayed by the pandemic. He said: “We had instructed them [FHP] back in February last year, but when the magnitude of the pandemic started to be realised David advised us to put the launch on hold until market sentiment improved, which we did. However, in November David had an enquiry from Unitech Plus, to whom he had sold 3 other sites, looking for a further site to buy and within two weeks had agreed terms for the sale of the site at circa £40,000 per unit in an off market transaction at our target price.”
David Hargreaves said: “When the design and location is as good as this and with planning in place and ready to go, finding a buyer when you are specialists in this market is relative straight forward."
Ehsan Sabet of Unitech Plus said: "We have bought sites in Beeston, Bramcote and now Riverside Way from them [FHP]. This is a stunning site and we are really looking forward to getting on site and delivering these beautiful apartments on the River.”
Work is due to begin on site in around six months time with apartments expected to be ready to reserve within 12 months. Expected prices have not been released.
