Investment in Friar Gate Goods Yard restoration passes £20m mark

Wavensmere Homes has revealed that investment to restore Friar Gate Goods Yard has already passed the £20 million mark.

Works at the 11.5-acre site began 10 months ago – and since then, the housebuilder has made rapid progress on the £80 million mixed-use project.

Having lain derelict since 1967, the scheme involves reanimating two landmark Grade II listed buildings into over 110,000 sq ft of commercial space, alongside 276 new build homes.

James Dickens, managing director at Wavensmere Homes, said: “Regeneration projects as complex as this require considerable upfront investment.

“We will have spent well over £30 million on site works at Friar Gate Goods Yard before the first homes are ready to move into next summer.

“This is in addition to the money we spent purchasing the land and throughout the extensive design and planning process.”

So far, a new spine road has been created through the site, and the final phase of site-wide roads and sewers infrastructure works are currently being carried out.

Construction is at various stages for the new terraces of two- and three-bedroom houses, with the superstructure works underway on ‘Terrace 1’.

The enabling works for the vast 19th century Bonded Warehouse and Engine House have included sandblasting and restoring over 100 original structural steels by Wavensmere’s specialist contractor.

The first 63 terraced houses will be available for occupation in Q2 2026. The full redevelopment, restoration and construction programme is anticipated to complete by the end of 2028.

James said: “Having lain derelict for well over 50 years, there was never any doubt that the redevelopment of Friar Gate Goods Yard was going to be a labour of love.

“Many developers had looked at the viability of this project and passed on it, due to the financial undertaking and complexities of the restoration of the listed buildings.

“As you approach Derby city centre, Friar Gate is a huge historic landmark, and we are excited to see the ripple effect our investment could bring about in the wider area.

“The fine attention to detail and our emphasis on quality placemaking will see this site become a nationally important trophy asset in Derby’s ongoing renaissance

“Welcoming the first residents into their new homes will be a major milestone.”

The painstaking restoration of the Bonded Warehouse and Engine House will deliver a total of 111,275 sq ft of flexible offices, health and fitness space, a restaurant/café, together with a regional sales centre for Birmingham-headquartered Wavensmere Homes.

Extensive new areas of open space, including pocket parks will also be created, in addition to the retention of the TPO tree buffer, to enhance the biodiversity of the site.

The elevated area adjacent to Friar Gate Bridge will become a new multi-purpose public realm and community space, with retention of some of the original railway arch facades.

New vehicular, pedestrian and cycle access are being created at various points around the site, from Uttoxeter New Road, Great Northern Way, and Friar Gate, with the Mick Mack cycling route also to be extended.

The first opportunity for members of the public to reserve one of the 227 houses at Friar Gate will be in Q1 2026, together with extensive commercial opportunities.