City council will get £8.4m for sale of Broad Marsh development site

NOTTINGHAM City Council has been paid nearly £8 million as part of the sale of the Broad Marsh site and will soon get another £500,000.

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Homes England has confirmed how much it purchased the Broad Marsh development for, with the Government's housing agency being announced as the buyer at the end of March.

The agency explained that it had agreed an overall sale price of £8.4 million plus VAT for the freehold purchase of the land.

Homes England says £7.9 million was paid on March 31 after the majority of the site was transferred, with another £500,000 being paid when a second, smaller area of the development site becomes vacant.