Compendium Living

Bondholders Win Big at Property Dinner

The Insider East Midlands Property Dinner took place last week, celebrating the strength of the region's property and construction sectors. 

A number of Bondholders walked away as winners, including Derby City Council, Compendium Living, Turner & Townsend, Ian Hodgkison, 3aaaProsperity Capital Partners and the University of Derby.

Derby City Council won the Design Excellence Award for the iHub at Infinity Park Derby. 

Judges were impressed that the finished project stuck almost completely to the original concept, including a number of quite complex elements. This was a testament to the strength of the design.

Compendium Living's Castleward scheme won the Regeneration and Restoration Project of the Year Award. 

The judges stated that the mixed-use scheme has been a catalyst for the regeneration of a key site between the railway station and city centre. Buildings which have stood empty for years have now been snapped up by investors who have bought into the vision Castleward represents.

Turner & Townsend walked away with the Client Adviser of the Year Award. 

Judges said Turner & Townsend add value from the beginning to end of the projects they're involved in. They offer a true advisory role to ensure the client is consistently updated and reassured at all stages.

National Construction Academy, run by Bondholders Ian Hodgkinson and 3aaa,  was awarded Skills and Apprenticeship Scheme accolade. 

Judges congratulated Ian for doing something about the skills shortage, including taking his message to Westminster. 

Cathedral Court, a student accommodation scheme involving Bondholders Prosperity Capital Partners and the University of Derby, walked away with the highly coveted Property Deal of the Year Award.

The judges stated that this scheme was an innovative solution to a long-standing problem; a building earmarked for office use where there was no demand for it. Prosperity Capital successfully negotiated some tricky hurdles to turn into student accommodation, including a problematic section 106 agreement and ended up attracting institutional investor Aviva. This clever deal has made the city more attractive to both investors and students. 

Next Phase of Castleward Ready to go

Compendium Living is to submit its planning application for the second phase of its award winning Castleward development, following local consultation.

A pre-planning consultation event was held on Wednesday 21st June at the Castleward Sales and Marketing Centre, where local councillors, residents and businesses could see the draft plans of the next phase.

Dave Bullock, Managing Director of Compendium Living, said: “Our Castleward project has been influenced by the views of people in Derby.

“We believe in the importance of engaging local councillors, residents and businesses with our proposed plans, which is why we ensure that we hold pre-planning consultation events to allow people to enquire and give their opinions about the plans before we submit them.”

The application for the second phase of Castleward will be for around 100 new homes across two sites. One of the sites is on Liversage Street, while the other site is the Sovereign car park between Canal Street and Wellington Street.

Dave further commented: “We are very excited that the plans for the next phase of Castleward will soon be submitted. We are proud to be able to continue to offer a mix of high quality housing which Derby people will benefit from.”

Derby's City Living Boom

Derby's city centre residential market is booming, with nearly 2,400 new properties built, or in construction, according to Bondholder Derby Telegraph. 

The city's residential revolution is showing no signs of slowing down as further new-builds and conversions bringing investment to the city centre.

This revolution has been kickstarted by the student accommodation market - out of the 2,388 new properties built in the city centre, 722 are student accommodation. This includes 128 apartments in converted Roman House by Bondholder StudioUS, and a 350-bed student accommodation development on Cathedral Road by Bondholder Prosperity Capital Partners. 

Developer Jensco has received planning permission to build a further 244 student apartment next to its One Friar Gate Square development in Agard Street.

A number of new homes have also come, or are in the process of coming, to market in the city centre, including the new Weaver's Point development from Bondholder Radleigh Homes, which comprise of 35 luxury apartments. 

We’re very excited about investing in Derby over the next 10 years. I’d like to do more student accommodation in Derby and we’re looking at other sites but, in addition to that, my vision for Derby is the build-to-rent sector. I think Derby is a prime city for build-to-rent.
— Gavin Barry, Chief Executive at Prosperity Capital Partners

These are joined by the apartments at One Cathedral Green, which all sold within months of going on sale.

A major success story of Derby's residential revolution has been Bondholder Compendium Living’s £100m Castleward development, which once completed will create an 800 home Urban Village in the heart of the city, mixing residential with retail and leisure. Phase 1 of the scheme has already completed with phase 2 set to begin soon.

Derby's residential revolution began two years ago at MIPIM UK, with the launch of the City Living brochure.

John Forkin, Managing Director of Marketing Derby, said: "Two years ago we launched a campaign to attract residential investment to support Derby's growth ambitions.

"We had a tremendous response and some of the buildings recently constructed, or currently going through planning, are a direct result of this.

"The past ten years' regeneration has made living in Derby city centre a more attractive proposition."

Boulevard Takes Shape

The urban village concept of Castleward is starting to become fully realised with the introduction of two new businesses.

Bondholder Compendium Living, developer of Castleward, has welcomed 24 hour gym provider Anytime Fitness to the development. 

Due to open in late December or early January on Compendium Living’s £100 million regeneration scheme to have been let.

The new 3778 sq ft gym will accommodate up to 1300 members and provide all brand new, state of the art equipment as well as a full timetable of classes.

Ian Woodland, Project Manager for Compendium Living, said, “This is an important milestone for Castleward as both the residential and now the commercial elements come to life. We are delighted to have such a well-recognised name as Anytime Fitness providing a real asset to the area”.
 
Maxine Sharman, Manager at Anytime Fitness Derby Central, said, “This is a flagship outlet for us and we are delighted to be one of the first businesses to open at this prestigious site.
 
“We aim to provide a friendly and welcoming environment for our members who will be able to work out safely at anytime to suit their lifestyle night or day.”

Anytime Fitness is joined by Boulevard, a new beauty salon, which has already opened its doors to the public.  

The business has has created five new jobs: one barber, two stylists and two beauty therapists, and boasts two treatment rooms, as well as the main salon area. 

Katerina Christodoulou, Owner of Boulevard, said: "Castleward is an exciting, up and coming area. The amount of footfall the boulevard attracts is great and although we have only been open a couple of days business has been brisk."

The scheme has proved incredibly successful with homebuyers keen to take advantage of city centre living and this will only be enhanced as the new shops and businesses open along the Boulevard.
— Ian Woodland, Project Manager

Luxury Penthouses Ready to Launch

Four luxury city centre penthouse apartments are launching next week, completing phase one of the Castleward Urban Village. 

Developed by Bondholder Compendium Living, the penthouses boast views of Derby Theatre and Derby Arena, and connect Derby's railway station to intu Derby.

The apartments follow on from the launch of Castleward Court, a block of 36 apartments, in June. Castleward Court sits in the heart of the city and is part of the Castleward Urban Village, which include 164 homes, coffee shops,  and retail units.

Michelle Barnsley, Field Sales Manager at Compendium Living, said: 'There has already been a great deal of interest in these apartments already, even before they have officially launched. We don’t expect them to remain on the market for very long as this sort of property is highly sought after.'

You really are in the heart of the city centre and yet you have the peace and quiet of the countryside thanks to the double glazed windows. When you look around the apartments you can really taste the cosmopolitan lifestyle you will live here at Castleward Court.
— Michelle Barnsley, Field Sales Manager

Compendium Living launches Castleward Court

As part of Bondholder Compendium Living's £100 million Castleward regeneration scheme, the block of 36 apartments, known as Castleward Court, was launched earlier this month.

Breathing new life into the space which connects Derby's railway station to intu Derby, each of the new apartments has two bedrooms, with some featuring a terrace or balcony.

Michelle Barnsley, Field Sales Manager at Compendium Living, commented: "This development is a fantastic location and is perfect for commuters, young professionals and families alike."

The development has recently received a highly commended award in the New Build category in the George Larkin Brighter City of Derby Awards by Bondholder Derby Civic Society, thanks to its "bright and modern buildings which reflect the 19th century street layout."

Dave Bullock, Managing Director of Compendium Living, said: "We're delighted with the response we've had so far with the amount of interest that has been shown in the new homes and I'm sure that this will continue long into the future."

Compendium Living is a Sponsor of the 2016 Derby Property Summit.

Derby hosts its major Summit

Tomorrow at Derby's iPro Stadium, over 360 UK property professionals will hear from guest speakers and our Q&A panel about the latest developments and investment opportunities in Derby.

This year's theme is Thinking Global, Acting Local and host Declan Curry will welcome special guest speaker Courtney Fingar, Editor-in-Chief of Financial Times' fDi Magazine who will speak about the timely topic Brexit: Be Careful What You Wish For? Christine Durrant, Strategic Director of Derby City Council, will talk about how the city's masterplan is being delivered.

A guest panel, which will answer questions from the audience, includes Gavin Barry from Bondholder Prosperity Capital Partners (the investors behind the new student development, Cathedral Court), David Joy, Chief Executive of Bondholder LCR, David Ralph, Chief Executive of D2N2, Alexandra Notay of the ULI (and independent consultant) and Russell Davies from Bondholder legal firm Smith Partnership.

In anticipation of this year's Derby Property Summit, Deputy Leader of Derby City Council, Martin Rawson, said: "We are moving full steam ahead on delivering our Masterplan with the aim of levering billions of pounds of investment, creating new jobs and delivering new homes.  We want to develop a vibrant city centre which will be a City of Choice, a Business City, a Living City and a Connected City. Investors and businesses have been integral partners in the progress so far and we will need constructive and mutually-beneficial partnerships to drive forward the next wave of regeneration successes."

Sponsors of this year’s event include Smith PartnershipJustin Smith ArchitectsProsperity Capital PartnersLCRCompendium Living and Harrington Land.

Siddals Road site on market

A three-acre development site in the heart of the city centre has come to the market in what is one of the best options for mixed-use development in Derby.

Originally granted planning consent for a 300,000 sq ft office scheme in 2010, the site is now being marketed by Bondholder Salloway Property Consultants for development. Whilst office development is expected to remain as part of the scheme, residential, hotel and retail uses are also ideally suited.

Located alongside the city's inner ring road, the site is adjacent to the intu Derby shopping centre and the Castleward urban village whilst the train and bus stations are within a five-minute walk. The site also benefits from outstanding links with the city's main business park, Pride Park, and major roads in and out of the city.

Details for the site can be viewed here, with full documentation available upon request, please contact plomas@salloway.com

Castleward builds a good reputation

Phase one of Bondholder Compendium Living's Castleward urban village project has been highly commended in the "New Build" category of the Brighter City of Derby awards by fellow Bondholder Derby Civic Society.

The Mayor of Derby presented a certificate to Compendium Living project manager Ian Woodland. Managing Director Dave Bullock said: "We are delighted that Derby Civic Society has awarded Castleward highly commended in this category. We had a fantastic year in 2015 and have been delighted with the response we've had so far from local people to our high quality homes."

Phase one of the Castleward project, the Boulevard, is nearing completion. It includes 164 homes, coffee shops, retail outlets and a convenience store.

Derby Civic Society secretary David Ling said the Castleward scheme deserved to be recognised: "The development has been constructed with bright modern buildings respecting the 19th century street layout, but including a brand new square, which is the central feature of the site. This is the first phase in the important step towards re-introducing residential development to the city centre."

 

D2N2 supports businesses for up to £2m

Managing Director at Compendium Living, Dave Bullock, outside the Castleward development

Up to £2 million in funding could be loaned to businesses looking to grow and create more jobs as part of an opportunity launched by D2N2 Local Enterprise Partnership earlier this week.

D2N2 is a private sector-led partnership of business, local authorities, skills and training providers, community organisations and more. The Growing Places Fund (GPF) has been launched to boost the economy with loans aimed at kick-starting stalled capital developments or expansion plans which will directly grow the economy and create jobs.

Loans will be between £200,000 and £2,000,000 and must be to finance capital (building) to help further businesses. They must also be within the D2N2 area, including the administrative boundaries of Derby City Council and Derbyshire County. A previous project which was benefited by the GPF was Bondholder Compendium Living's Castleward housing and commercial development.

The news follows D2N2's announcement of a £300,000 initiative which looks to boost career options for young people by motivating and supporting them to make better informed decisions about their future careers.

To find out more about the Growing Places Fund, visit www.d2n2lep.org/GPF or to find out more about D2N2's work to promote skills and training visit www.d2n2lep.org/skills

The story of league tables and cities

Last week the Derby Telegraph ran a story listing Derby as one of the best cities in which to live and work.

A company called Statista, having analysed salaries, employment and living costs, produced a table ranking the UK’s 64 cities with Derby coming second.

I was asked to comment and, of course, did so, albeit with a little restraint (these lists come and go, there are no silver bullets etc). 

In my experience, such league tables need treating with some caution as they invariably throw up oddities, depending on the statistics on which they are based.

In this particular table, Derby scored second and Cambridge came in third. So far, so good you might think. That is until you learn that Blackburn topped the table in first position. 

Another table released recently measured cities by SME expansion and in this Derby came out a credible fifth. Joining us in the top ten were the likes of Aberdeen, London and Leeds – bottom, in 64th place, was Hastings, with Blackpool and Grimsby just above.

Finally, another report looked at what they called the ‘new work’ economy. In other words, cities that attract knowledge intensive businesses of the future.

The results were produced across a UK map with each city given a green for good, red for bad. 

No surprise, but the map was a sea of green in the south and splattered red in the north. 

There were a few outliers breaking the mould, poor old Hastings in the south being red, and Manchester, Leeds and York in the north, being green.

I think that tables fuel perceptions, which in turn influence decisions - personal and corporate

The Midlands didn’t fare too well I’m afraid, with only Coventry and Derby scoring green, the rest being red.

So, does any of this matter? Are any decisions taken on the basis of league tables? 

I think that tables fuel perceptions, which in turn influence decisions - personal and corporate.

When each series of the book Crap Towns is produced I flick through just hoping that Derby does not appear (it doesn’t). I know it’s a bit of unscientific fun, but it does shape narrative.

When the Lonely Planet travel guide described Derby as the UK’s Real Ale Capital, believe me, it kind of helps.

No single table is the silver bullet, but if your city invariably appears near to the top time after time, as Derby does, it creates a positive story on which one can build. 

Last week the Centre for Cities think-tank launched an important report on urban demographics, analysing why people choose to live where they do.   

There is the obvious observation that young people prefer city centres, over-30s prefer the suburbs and over-55s the hinterland.

However, following post-war 50-years of city centres being ‘hollowed out’ of people there is now a well-established trend in the growth of city living. 

In fact, the report shows that residential growth in city centres over the past ten years has been 37%, way above that of the suburbs (8%) and hinterlands (6%).

The trend is driven by the so-called ‘millennials’ - young, educated knowledge workers - and is most marked in larger cities, though now spreading to the medium-sized cities of which Derby is one of 30.

We are on the cusp of an explosion in student accommodation, office to residential conversions and new build to sell/rent schemes. 

Leading the way is Compendium Living’s Castleward with 160 units (eventually 800). 

But, add to this Derby’s only current tower crane, constructing London and UK’s 350-unit student scheme on Cathedral Road, the conversion of Roman House and St Peter’s House (another 280 units), Wilson Bowden’s Full Street riverside apartments, Radleigh Group’s Weavers Point and Jensco’s Two Friar Gate Square scheme going through planning permission and there are over 1,000 residential units on the way in central Derby.

Over the next five years, taking into account Castleward, the Nightingale Quarter and Riverside, and we anticipate a further 2,000 units being developed.

The Centre for Cities report is clear. Successful cities of the future must cater for city centre living or they will fail to attract talent.

I agree that Derby must keep a weather-eye to balance between city centre offices and residential – in truth, we need both.

But, it’s not a zero-sum game, far from one negating the other I see the opposite. 

More city living will lead to more city working; we just have to plan our interventions to facilitate this.