Bondholder Derby City Council has announced that a specialist private sector property company has been named as the development partner for a new council-led project to construct larger and quality offices spaces in Derby City Centre.
The Jensco Group was selected following a mini-competition. Jensco, who is a Marketing Derby Bondholder, has recently completed the 236 bed Agard Court student residential scheme having previously developed the Derby Law School One Friar Gate Square.
Jensco will design and build a high-quality four-storey 34,000 square foot Grade A office block, designed to be let as a whole or as single floors at Bold Lane in the Cathedral Quarter.
Grade A offices are recognised as quality premises for premier business users but these have been in short supply in Derby.
Deputy leader and Cabinet Member with responsibility for regeneration Cllr Matthew Holmes said: “The key benefits of a developer delivery model is that it transfers the construction risks from the council. It also increases the speed of delivery which is something that local agents have told us is essential to release the pent-up demand for Grade A office accommodation. All eyes are also on this project and if it is as successful as our forecast indicates, then I expect that the private sector will start to deliver more Grade A office developments which is a key objective of Derby City Centre Masterplan.”
Nigel Bobroff, Director at Jensco, said:“Jensco is delighted to have been chosen to deliver a modern, vibrant and beautifully designed workplace of tomorrow for Derby City Council. The development of this environmentally focused Grade A building will bring all the benefits of working in the City Centre and deliver an inspirational destination building in a prime location”
John Forkin, Managing Director of Marketing Derby, said: "In our view, central Derby is crying out for quality offices but faces market failure due to an unavailability of funding. We believe Derby City Council is correct in being pro-active, and Jensco have a strong track record of delivery in Derby."