Prosperity Rising for Derby's Students

“We are delighted to see this latest development scheme involving bondholder companies working together, as the student accommodation sector in Derby continues to go from strength to strength.

An additional 300 students moving into the city centre will continue to see city businesses benefit from the increased vibrancy they bring.

Marketing Derby have worked closely with Prosperity Capital Partners on Cathedral Court, and will continue to do so going forward.”
— Tom Erskine, Marketing Derby

London-based Prosperity Capital Partners has announced plans to develop a second student accommodation building in Derby.

Following on from its successful £20.3m, 350 unit Cathedral Court scheme, which opened this September, plans have now been submitted to develop around 300 units in a new building on Cathedral Road.

The deal was brokered by Rigby & Co, alongside FHP, on behalf of the owner,  Peter Gadsby of Cedar House Investments.

Peter Gadsby said: “We considered a number of different commercial and residential schemes for this site, but ultimately were satisfied that Prosperity Capital Partners will meet the growing expectations of Derby’s student market – and this deal ensures there will be development activity in this region."

Gavin Barry, CEO of Prosperity Capital Partners, added:  “We were keen to build on the success of our Cathedral Court scheme and develop further high quality, contemporary accommodation for Derby’s students. These kinds of developments are incredibly important to the city’s economic wellbeing and provide invaluable support to Derby’s student population. It has been a pleasure working alongside Peter Gadsby and Rigby & Co to conclude this deal.”