Nottingham based ALB Investments has completed the first phase of renovation at the former Ilkeston Co-op and has announced its first new resident as Erewash’s MP, Maggie Throup MP.
Five of the seven commercial units have already been leased with interest building on unit six.
The regeneration of the iconic building, which was originally closed in 2013, is awaiting planning permission in order to transform the development into 60 plush apartments, which will have a positive effect on the local economy with increased footfall on South Street.
Arran Bailey, managing director of ALB Investments said: “The aim for this regeneration has always been to boost to the area’s economy and help the town’s current shops, bars and restaurants reap the benefits from the extra footfall and help turn Ilkeston into a thriving town.
“We are delighted that Mrs Throup has decided to let out one of the units as that will be extremely beneficial to her constituents. Everything that has happened during this renovation has been extremely beneficial to the town and upon completion, the site will not only offer exciting new retail and leisure opportunities but will hopefully bring more young professionals to the town’s current residents if the planning permission for the 60 new plush apartments is approved.”
The conservative MP has secured a new lease on Unit 2 in the iconic building and shall be using the 1050sq ft space as her community office with her three members of staff and caseworkers.
Mrs Throup MP shall be running some of her surgeries from the new unit and shall uphold an open door office policy so that people can visit her during working hours every day.
Maggie Throup MP, Erewash’s MP said: “It is important that we put the Ilkeston Co-op back on the map and I am delighted to have the first unit that is opening. It is in a fantastic location, right in the heart of town and it boasts great transport links, which is fantastic for my constituents.
“Housing is an important issue across Erewash, and so it is great news that this iconic building will provide new homes not only for existing Ilkeston residents, but hopefully for new people attracted to the town by this development.”
ALB Investments have heavily invested into a regeneration project to transform the former Co-op and neglected area into a thriving local town once more.
Of the five units that have already been leased, Snap Fitness, which has over 1800 gyms worldwide, shall be opening a state-of-the-art 24hr gym with heads of terms signed subject to planning.
Daniel Smith, area manager at Snap Fitness said: “We think it’s a great building in a great location. Ilkeston needs a state-of-the-art gym and its location is ideal for local residents.
“The building will include people living in nice apartments that will want access to a gym, this is a great facility for them to use and both the units and the new apartments will compliment each other.”
Savills in Nottingham is the marketing agent that has been advertising the units that are available to rent.
Paul Giles, associate director at Savills said: “With its prime position opposite the Market Place, Town Hall and adjacent to the main bus stop, the newly refurbished Co-op building will once again become the focal point of the town centre. We have already secured tenants for five out of the seven units which are set to offer a range of retail and leisure uses for the benefit of the local community, all of which are set to open in the first few months of 2016."
“Creating a vibrant retail and leisure mix in conjunction with the regular Market traders is a key part of ensuring that the town centre is kept alive and bustling, assisted by the growth of town centre living which plays a vital role in ensuring that sustainable growth is maintained”
The Co-operative Society began trading in Bath Street in 1837 before moving to South Street a year later. It built the new site in the 1904 but closed in 2013 after the home and clothing store had been making substantial losses.
For more information, please visit: www.albinvestments.co.uk