Old WHSmith shop in Nottingham could get new tenant as part of charity's bid to raise cash

The city council is the sole trustee of a charity called the Bridge Estate, which maintains Trent Bridge using the money it raises from letting out around 100 properties across Nottingham

A Nottingham City Council charity is in talks to rent out two city centre buildings and sell another to continue maintaining an iconic landmark. The city council is the sole trustee of a charity called the Bridge Estate, which maintains Trent Bridge using the money it raises from letting out around 100 properties across Nottingham.

The profits from these leases go towards the continued maintenance of the bridge as well as an annual payment to the council to help support its services. This has typically been around £1.5m in the past, but the charity has struggled to rent its properties after Nottingham's high street was dented by Covid and the demise of the Broadmarsh shopping centre following owner Intu's collapse in 2020.

However, an update from Nottingham City Council's Trusts and Charities Committee on Monday, December 18, suggested progress could soon be made at three Bridge Estate sites. On Lister Gate, where the majority of big-name shops fled following Broadmarsh's collapse, the former WHSmith shop could soon have a new tenant.

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Negotiations are ongoing with a prospective tenant for 38 Lister Gate, according to a committee report. WHSmith closed its store in 2021, citing poor trading performance at the site due to a decline in footfall.

An appendix to the report, which provided more detailed financial information on the potential agreements, was not published by the city council. Its report concluded publishing greater detail was not in the public interest as it could jeopardise ongoing negotiations.

The 'Castle House' offices at 24-30 Castle Gate could be sold, the report also revealed. Negotiations are ongoing over the freehold sale of the building, which was last occupied by Nottingham Crime and Drugs Partnership's Adult Offender Team.

Although no financial details of a potential deal were disclosed in the public report, the money that could be raised by a sale was discussed in a previous meeting. The charity has also agreed lease terms with an unnamed prospective tenant for what was previously part of the grand National Justice Museum on High Pavement in the Lace Market.

The Governor’s House & Judges Retiring Rooms of the Shire Hall would be let out, with the lease expected to be completed after "various works" were carried out at the property. All the other properties mentioned in the update were listed as ‘to let’, with finance officials noting the unoccupied periods would be included in the charity's financial forecast.

These include 34 Lister Gate which is listed at a rate of £75,000 per year and the upper floors of Century House at 8–18 Chapel Bar, which was formerly used by the city council's failed Robin Hood Energy project. It also includes former E.ON offices at Woolsthorpe Depot and the ground floor of Castle Bridge Office Village, Lawrence Way.