£200m development boost for Derby
Derby’s number one regeneration priority took a significant step forward this week as Bondholders St James Securities and Derby City Council exchanged contracts, triggering a planning application for a £200m mixed development that received 89% of support in a recent public consultation.
The scheme – which includes £8.1 million in Local Growth Fund investment from Bondholder the D2N2 Local Enterprise Partnership – covers the former Debenhams store, Pennine Hotel, NCP Car Park and Laurie House at Becketwell. The first phase comprises a high quality new public square and 342 Build to Rent apartments.
Paul Morris, director of St James Securities, commented “We were delighted to be chosen by Derby City Council in March 2018 to deliver a truly comprehensive and badly needed major regeneration scheme for Derby city centre and are hopeful of a successful determination to this application by the end of 2019.”
Chris Poulter, Leader of Derby City Council added “The area has been in need of regeneration for years and this is a fantastic step in our plans to transform Derby’s city centre.”