The £120m scheme, which will also include 19 affordable homes, will be built at Alfreton Road,  just a 13-minute walk from the Nottingham Trent University campus.

Known as Forest Mill, RG Group has been awarded the build contract for the PBSA element and Tanbry Construction the affordable housing element.

Main construction will start this month following completion of enabling works at the site.

James Lindridge, development director at Olympian Homes, said: “We are thankful for the pragmatic nature of Nottingham City Council in supporting our vision and addressing the supply/demand imbalance of PBSA and affordable homes within Nottingham.

“We look forward to commencing works on site, engaging with local stakeholders and contributing to Nottingham’s ambitious growth plans.

“The transaction is our second Olympian PBSA funding completion of 2023 and demonstrates the high level of investor confidence in this sector despite the turbulent macro-economic backdrop. ”