PETROL STATION FUELS LUXURY DEVELOPMENT FOR PROPERTY INVESTMENT PORTFOLIO

Nottingham investment company, Property Investment Portfolio, has acquired Teesdale Garage on Hucknall Road in Nottingham to develop into luxury architect-designed apartments, to compete with some of the UK’s leading housebuilders.

Sherwood Court, as the development will be named, will comprise 13 bespoke apartments in close proximity to the city centre, offering something a little different to major housebuilders also developing properties in the area.

Arv Soar, director of P.I.P. explains: “Sherwood Court is only a small development but it is offering investors the chance to buy something completely unique. We wanted to create individual, bespoke apartments, which offer space that you can’t find in most new build properties in the city centre.”

Sherwood Court will include 12, two bedroomed properties offering massive square footage of between 636 sq ft and 761 sq ft, and a one bedroomed property at 517 sq ft. The apartments offer the best in modern design, outdoor space and secured gated access, and will be sold off-plan. The development is due for completion in Spring 2008.

These apartments are in close proximity to the City Hospital and the city centre, so will appeal to key workers and young professionals alike. Sherwood Court is the latest development of the new build arm of P.I.P., which also currently has apartment developments in Derby and Mansfield.

Property entrepreneur, Arv Soar started P.I.P. in 2006 and just last month the company relocated to larger offices in Wollaton, Nottingham after a successful first year, where it nearly doubled its projected targets. Arv now has a portfolio of over 200 properties worth in excess of £20 million and has recently been appointed non executive chairman of London consortium, Grosvenor Investment Consortium.