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Investment on Barnby Gate set to make new history in Newark

20th September 2015 Print

A former office block on Barnby Gate in Newark will be turned into 11 luxury apartments, expected to boost the local economy.

Nottingham based ALB Investments bought the vacant office block back in October 2014 because of its central location, including the historic market place which is only just round the corner from the development.

The nine-month project, which began in August, will regenerate the block into eleven one-bedroom apartments.

Managing director at ALB Investments Ltd, Arran Bailey, 29, was interested in investing in the development, as he wanted to be part of an area with such a rich history.

He said: “Newark is one of the most historic towns in the UK and we are delighted that we have had the opportunity to leave our mark on it.

“By regenerating the office block into luxurious one-bed apartments we hope to attract young professionals to the area which can only be of great benefit to local businesses and residents with the added footfall. The A1 and A46 bypasses also make it an attractive location for young professionals who commute to Lincoln, Nottingham and even London.

According to the Council for British Archaeology, Newark is one of England’s most historic towns, which it describes as ‘splendid and precious’. It has a medieval street plan, a twelfth-century castle, one of grandest Parish Churches and what is believed to be the finest market place in the country.

Mr Bailey added: “Work has begun on the project and we are confident it’ll be finished on time. Newark is a fantastic location for young people, and we believe that once this project is complete, many more will move to the area and appreciate what Newark has to offer.”

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