Nottingham Council and UK Regeneration (UKR) have signed a deal for the development of 200 homes to be built on the former Sandfield school site.

The deal, unveiled at MIPIM, the international property and development exhibition in Cannes, was agreed in principle by the two parties in 2012.

It is being hailed as a "groundbreaking attempt" to help tackle the shortage of new homes.

The privately-funded development will be a blueprint by UKR for a new kind of city centre infill development; where communities are built around 'villages' of rented properties supported by their own facilities.

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Named Sandfields, UKR said the new homes will be built to generous space standards. It also hopes a mix of convenience shops, boutiques and small local operators will be on the site to serve the local community.

UK Regeneration chief executive Jackie Sadek said: "Working with Nottingham City Council we'll create 200 new homes at Sandfields that will meet local needs and contribute to the local economy first and foremost.

"And because they will be designed from the outset to be let, not owned, we will capture efficiencies in construction, management and maintenance."

The Nottingham development could cost up to £30m.

(JP)