Ardeshir Nagshineh’s Norwich-based property empire is back, albeit in a smaller and more localised form.
Management company Targetfollow Estates and investment arm Targetfollow Group – both untouched by administration proceedings – remain based in the firm’s Norwich headquarters at Riverside Road, from which plans are being worked up to transform the town’s Dukes Wharf and former Bally shoe factory site.
Plans for the long-awaited Dukes Wharf redevelopment include 154 flats and associated retail. According to chief executive Corin Thoday, Targetfollow plans to be on site in the next few months. The first phase of 16 homes and two shops will be completed in late 2016, he says.
Meanwhile, development is now imminent at the former Bally shoe factory site, where an Asda supermarket and petrol station are proposed.
Market observers say supply constraints are beginning to make Norwich’s office market look more appealing. However, demand still remains sporadic and thin – and development unlikely.
