‘No Trouble At Mill’ As Property Developer Arran Vows To Bring Regeneration To Draycott

Added by Love Business East Midlands | 15 April 2015

UPDATED: 15 April 2015

Plans to convert the derelict Victoria Mill, on Town End Road in Draycott, have been given the green-light, as an ambitious property developer vows to bring regeneration and increased profits to the village

Arran Bailey, managing director of Nottingham based ALB Investments Limited, expressed an interest in turning the derelict building into 73, one and two bedroom luxury apartments, after residents expressed a concern that it had become a target for arsonists, and youngsters using the old building as a place to congregate.

Built in 1873 by Henry Mason, to manufacture worsted coatings and dress goods, residents in Draycott believe that the building is the exact same dimensions as Noah’s Ark, and that the building itself makes use of 365 windows- One for each day of the year.

Erewash Conservative Borough Councillor, and Chairman of the Parish Council, Val Clare, met with Arran at the start of the planning process, she said:

“I was delighted when Arran rang me and declared that he had bought the derelict mill, as it has been an eyesore for many years.

“This excitement is echoed in the village with many residents and business owners welcoming the move, which is expected to bring more business to the area.”

ALB Investments Limited, then conducted some market research in the village ,with help from Val to gauge public opinion around the project.  Much to their satisfaction, it was found that since the first section of the mill was renovated a few years ago into residential premises, local businesses have reported an increase in profits, and more recently, an increase in footfall from Arran’s workforce.

Arran said:

“Work has begun on this ambitious project, and we expect that we will be at the completion stages towards the end of this year.  The luxury apartments will be of a fantastic specification, and boast great views of the surrounding greenbelt land.

“We have so far been welcomed into the village with open arms, and we hope that this fantastic relationship will continue with the residents of Draycott.”

For more information, please visit www.albinvestments.co.uk

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