Work Commences on Phase One Of £200 million Becketwell Scheme
By: St James Securities
Councillor Chris Poulter, leader of Derby City Council, joined developers St James Securities, representatives from main contractors GMI Construction, funders Grainger plc and other key stakeholders at a ground-breaking ceremony to mark the start of piling works on the site of the former Debenhams store on Victoria Street.
Phase one of the scheme includes 259 one and two-bedroom Build to Rent (BTR) apartments, which will be forward funded, acquired and operated by Grainger plc, the UK's largest listed provider of private rental homes.
Detailed planning permission for phase one was granted in January 2021 and demolition work started in March 2021. Work on phase one is set for completion by early 2023.
Work is already underway to bring forward a phase two of the scheme, which will feature an exciting new 3,500-capacity performance venue on the site of Laurie House offices and the former Pink Coconut nightclub, which will be operated by ASM Global, the world's leading provider of entertainment experiences. A public consultation has recently taken place, with a planning application set to be submitted next month.
Commenting on the start of phase one, Dan Murray, construction director of St James Securities, said:
"More than three years since we first visited the site, we are delighted to see construction work start on this landmark regeneration scheme for the City of Derby.
"This project will be transformational - allowing hundreds of people to live in high-quality homes in the heart of the city and breathing new life into an area which has been challenged for many years.
"Alongside the apartments and public square that will make up phase one of the scheme, there will be wider development, including new offices, public space, and a hotel - as well as our exciting new performance venue, which will be developed by St James Securities and owned by Derby City Council.
"We look forward to delivering a scheme that will revitalise this long-neglected area of the city and contribute to improving the overall vibrancy and attraction of the city centre."
Cllr Chris Poulter, leader of Derby City Council, added:
"This brilliant project is an important component of the Derby Recovery Plan. The ambitious development at Becketwell will diversify the economy and is an example of how we are creating a modern, SMART city, with jobs for the future.
"It's fantastic to reach this historic milestone and we are proud of the vital role Derby City Council has played in making this happen by assembling the land and securing the D2N2 LEP investment. I'm confident that by working together we can build back better."
Find out more: www.becketwell.co.uk
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