Major Milestone Reached At New £37m Residential Development In Derby City Centre
By: St James Securities
GMI Construction Group PLC has announced that it has reached the topping out stage for Derby's first purpose-built Built to Rent (BTR) scheme which is under construction for St James Securities and Grainger plc as part of the Becketwell regeneration scheme.
The development, which features 259 one- and two-bedroom units, has now reached 11 storeys, which was marked with a topping out ceremony attended by representatives from St James Securities, GMI, Grainger plc and key stakeholders from across the city.
Construction work is progressing to plan with the building expected to be completed by March 2023.
The development is being forward funded and will be owned and operated by Grainger plc, the UK's largest listed provider of private rental homes.
The homes, which are being built on the site of the former Debenhams store on Victoria Street, form part of the first phase of the Becketwell scheme and will be adjacent to the new public square, which is the centrepiece of the development and will also be delivered as part of phase one.
The development, named The Condor, the famed Rolls Royce engine, will feature 2,962 sq ft of internal ground floor amenity space for residents, including a shared resident's lounge and co-working space, in addition to 2,185 sq ft of external rooftop space with a terrace overlooking the new public square.
Commenting on the progress GMI Divisional Managing Director Andy Bruce said:
"Our team onsite at Becketwell have made huge strides since the start of the year and to be topping out today is a noteworthy achievement.
"You can see the development now really starting to take shape and bring the vision into reality. The regeneration of Becketwell is a land-mark project in Derby City Centre which once finished will create a brand new urban quarter and sense of place.
"GMI are proud to be playing a leading role within those plans and to further our excellent credentials in terms of city centre regeneration creating vibrant and attractive places to live and work and generating significant investment and job opportunities right across the regions in which we operate."
Future planned phases of the scheme include other complementary uses of the site that may include a hotel, multi-storey car park and purpose-built student residential.
It is also hoped that substantial levels of investment proposed at Becketwell will provide confidence for further new investment in surrounding areas of the city centre. More than 2,000 jobs are expected to be created by the development.
For information about the development visit: https://becketwell.co.uk/
BH PR Communications Ltd