Nottingham property investor sets sights on mills boon

Added by Love Business East Midlands | 24 May 2021

Nottingham-based ALB Group has completed the purchase of Bridge Mills, one of Long Eaton’s most visible and historic landmarks.   

 

The 0.7-acre mill site, in Derby Road, boasts a 1902-built former lace factory with prominent 110ft-high brick chimney. 

Purchased by ALB from Baco Investments, the mill was the last multi-storey tenement factory to be built in England.

Located next to the Erewash Canal, the buildings now house a number of commercial tenants over three of its four floors, including two of the UK’s largest furnishing businesses, DFS and Ashley Manor, as well as fashion and leisure firms. 

ALB is planning to sensitively restore and refurbish the top floor of Bridge Mills with a view to attracting one or more new commercial tenants to the development.      

It is the second venture of this kind undertaken by ALB in recent years. In 2015, the firm transformed the historic Victoria Mill, in Draycott, Derbyshire, into 73 luxury apartments with a highly acclaimed £7m regeneration project.

Arran Bailey, managing director of ALB, said:

“As guardians of the wonderful history we have sitting on our doorstep, it is incredibly rewarding to be able to breathe new life into these buildings.

“The fantastic results we saw with Victoria Mill, providing a much-needed boost to the local economy in Draycott, can be repeated in Long Eaton with Bridge Mills.

“It’s thankfully still a working building, so our initial input will be quite limited. But these old industrial spaces are proving more and more popular - both as residential apartments and for businesses looking for more character in their workspace - so we look forward to keeping Bridge Mills busy and vibrant for many years to come.” 

The team at ALB has also recently bought the Nottingham College campus in Beeston High Road, for an undisclosed sum. The building could potentially become student apartments, with the main building being converted into accommodation, and older buildings on the site that are not fit for purpose, such as the gymnasium, demolished.

Bosses at the firm have earmarked the 120,000 sq ft site for potential student apartments, with the main building converted into accommodation, and older buildings on the site which are not fit for purpose, such as the gymnasium, demolished.

To find out more about becoming a future tenant at Bridge Mills, ring 0115 9859001 or email info@albgroup.co.uk.   

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