News Item - Auction Estates acquire former Police Station - Auction Estates

  • Auction Estates acquire former Police Station news item

    Auction Estates acquire former Police Station

    Nottingham based ALB who specialise in property investment and regeneration have announced their acquisition of the former Carlton Police Station from the Nottingham Police Authority with plans for a multi-million pound conversion to commence later this year.

    The station, which closed in June 2017, comprises a substantial purpose-built facility of 27,410 sq ft on a site of 1.66 acres which ALB have exchanged contracts for an undisclosed 7 figure sum. ALB have plans to convert the main building into high quality apartments and a proposed office building & residential apartment block in the vast car parking area.

    Arran Bailey, Head of Carlton based ALB and a highly successful businessman has lived in the area all his life and is excited to get stuck into this regeneration project which is set to bring much needed inward investment to the area. Mr Bailey commented: “My grandad historically ran the nearby Windsor Castle pub and when this project is completed it will be named ‘Ernest House’ in his memory”.

    Tim Wendels, Head of Nottinghamshire Police Authority Estates Team commented: “Following the successful move of officers and staff from Carlton Police Station to shared premises with EMAS on Manor Road, I am delighted that we have now secured the sale of the former station. This will bring in a very useful capital receipt to add to the revenue savings arising from sharing the new premises with EMAS. All of this helps us to support front line policing which is our priority.”

    ALB were advised by Paul Giles of Auction Estates who has acquired this building on their behalf along with a diverse portfolio of property both locally and nationally which includes such schemes as the highly successful conversion of the former Ilkeston Co-op Department Store, a multi-million pound project in the heart of Ilkeston town centre which provides a vibrant mix of retail units along with stylish apartments above. He has also acquired large scale regeneration projects of 100,000 sq ft tower blocks for ALB in Derby City Centre and in the West Midlands.

    They are confident of repeating their successful formula with the former Carlton Police Station where works are to commence later this year and completion expected in 2019.
     

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