Peveril Securities Announced as Development Partners For £200m Becketwell Derby Scheme

By: St James Securities
 
DERBY, U.K. - Feb. 25, 2022 - PRLog -- St James Securities, developers behind the £200m regeneration of the Becketwell area of Derby, have announced Peveril Securities as development partners for future phases of the scheme.

The company, which is the development arm of the Bowmer & Kirkland Group, has brought significant financial weight to phase two of the scheme, which includes the delivery of a new 3,500 capacity performance arena for the city.

St James Securities hard work and determination have provided a platform to encourage significant investment to Becketwell and the wider city centre.

This includes Grainger, the UK's largest listed provider of private rental homes, which is fully funding, acquiring and operating the £37.375m Build to Rent (BTR) scheme; Derby City Council which has assisted with land assembly for the development and will be acquiring the performance venue; ASM Global, the world's leading venue management and services company, which will be operating the venue on a 30-year lease, and now Peveril Securities, which specialises in investment and development both in a sole capacity and in joint ventures.

This latest announcement is expected to provide confidence for further new investment in surrounding areas of the city centre.

In October 2021, Derby City Council granted planning permission for the new 3,500 capacity performance venue.

Demolition work will commence in March 2022, with construction work set to commence in January 2023, with completion and handover to the operator in late 2024.

Commenting on the addition of Peveril Securities, Paul Morris, development director at St James Securities said:

"This is another significant financial commitment from a very well respected and locally based company, which is one of the biggest players in the region.

"Their financial strength secures the future of the site and will enable us to forge ahead with multiple projects at the same time.

"Over the past five years, we have been real trailblazers, prepared to take on a site that had failed multiple times and putting together a scheme which will change the face of the city.

"We are delighted that Peveril Securities share our ambition for Derby city centre and look forward to working together to encourage additional investment to the city."

Ralph Jones, managing director of Peveril Securities and main board director of Bowmer & Kirkland, added:

"We have been following the progress of the Becketwell area of Derby with interest over the past couple of years and are delighted to be involved in such a transformational scheme which is local to Peveril Securities.

"St James Securities have a track record of delivering high quality regeneration schemes in other cities and we look forward to bringing our financial strength, development and construction expertise to this exciting project."

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Industry:Business
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