wavensmere homes

Partnership property deal

Bondholder Smith Partnership has announced one of the biggest deals in its history with Nightingale Quarter developers, Bondholder Wavensmere Homes.

Smith Partnership has been selected as a preferred legal partner in the sale of new homes on the prestigious Nightingale Quarter development, where 800 homes are to be built on the site of the former Derby Royal Infirmary with a value of £150m.

Work is anticipated to begin on the site in October with properties released for sale in January with first completions in early summer next year.

The new deal between Wavensmere and Smith Partnership will mean that legal work on sales should go through in just 28 days.

Wavensmere’s sales director Donna Smith said: “It would have been easy to bring in Birmingham-based partners but we are trying to work with as many local businesses as possible and, as we are both Marketing Derby Bondholders, Smith Partnership was a great fit.”

Smith Partnership managing partner, Kevin McGrath, said: “We are thrilled with this deal. When we decided to stay in the city centre with our new headquarters on Friar Gate, we were attempting to inspire other people to follow suit. So, helping people move into the Nightingale Quarter is entirely consistent with what we have been trying to do in supporting Derby city centre in being a 24-hr destination of choice for people to live, work and enjoy.

“It is one of the deals we are most proud of because of what it means for the city.”

Already 400 people have registered interest in the site in a month, attracted by the proximity to the railway station, Bondholder intu’s shopping centre and the other fantastic facilities Derby has to offer.

In accordance with the law, Smith Partnership will be one of two legal partners for the site.

image+%2832%29.jpg



Nightingale city living

Enquiries are now officially being accepted by Bondholder Wavensmere Homes for the first wave release of the luxury 125 two- and three-bedroom homes, which will form part of the 800 planned for the Nightingale Quarter site.

James Dickens, Managing Director of Wavensmere Homes, said: “There has been an incredible amount of interest in the site and we are so proud to be able to be moving the development forward after laying dormant for four years. This is one of our most exciting projects to date, and so we wanted to make sure everyone who has messaged us to enquire about living there can now formally do so as we are planning to have work starting on site this autumn."

The £150 million development, which will also include apartments, is set to be built over the next five years on the site of the former Derbyshire Royal Infirmary.

Planning permission was granted earlier this year by Derby City Council, and Wavensmere directors were careful to keep the iconic Pepperpot structures available for the whole community to enjoy and continue being major landmarks of the city. They will be transformed into a community hub café, exhibition space, gym and meeting rooms.

James Dickens said “Derby residents are incredibly fond of the Pepperpot structures due to their local historical significance, so this was a large part of the look and feel of the whole development, and we cannot wait to get started on creating a new chapter for the Nightingale Quarter and the city."

The eight-acre site will be a ‘green oasis’ for residents, including cycle routes, an open air gym and fitness area, children’s play areas and planting throughout the site.

The site was demolished in 2015 and was untouched until being taken over by Wavensmere Homes last autumn

All two and three-bedroom homes will be of a high spec, and include parking spaces and gardens.

Developers are expecting the site to be popular for first time buyers, as well as commuters wanting to keep a piece of city life due to its proximity to the train station and major shopping outlets and restaurants in the heart of Derby.

Sales Director Donna Smith said: “First completions are expected to be taking place in Spring 2020 and we know they are just going to be snapped up, so it’s important that people get their names on the list within the next few weeks.”

John Forkin, Managing Director of Marketing Derby said: "This is a really important step in bringing forward development of one of the largest city centre residential sites in the country. We have been working very closely with Wavensmere Homes to ensure a smooth landing in the city and they are keen to become part of the Derby family. The Nightingale Quarter is a massive investment that will quickly become a desirable residential location in the city centre providing 800 much needed homes. We all have personal memories of the DRI and I look forward to seeing this important part of Derby's past becoming a vital community asset for its future."

For those wanting to register their interest in the homes, visithttps://qderby.co.uk/

NCL.jpg
 

Derby in the City

Guests at Marketing Derby's London Embassy, held on the 34th floor of Broadgate Tower, courtesy of global law firm Reed Smith, heard how Derby has significant investment opportunities, backed-up by a strong supporting economy.

Marketing Derby MD, John Forkin, presented a compelling case for the city and county to a room of investors and developers, confirming Derby as the number one city in the UK for disposable income.

With over 4,000 residential units under construction, in planning or completed in its square mile city centre, Derby is firmly on the radar of residential investors.

Keynote speaker, Ed Fowkes, COO at Prosperity Capital Partners, spoke about the multiple investments it had already made in the city and the confidence it had in the viability of future schemes in Derby.

Also speaking at the event was Donna Smith, Sales Director at Wavensmere Homes - a recent investor in the city through the acquisition of the Nightingale Quarter; a landmark 20-acre site based in the heart of Derby city centre, offering a true regeneration opportunity to help shape place. Donna spoke of Derby as an untapped city for investment and opportunity.