Investment News | 20 June 2023

Developer strikes deal for prime Derby riverside site

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A developer has announced it has struck a deal for a prime riverside development site in Derby’s Cathedral Quarter.

Wavensmere Homes, which is currently delivering the £175 million Nightingale Quarter residential scheme on the site of the former Derbyshire Royal Infirmary, has agreed a deal for the vacant plot, located off Full Street, with Wilson Bowden Developments.

The site was initially earmarked for an office development – but will now be brought forward by Wavensmere for an apartments scheme.

James Dickens, managing director of Wavensmere Homes, said: “This site is one of the best located within Derby city centre, with rich views of the Cathedral Quarter and the River Derwent.

“Derby is a walkable city, and the significant investment in the public realm has seen it become a vibrant and cosmopolitan place to live, work, and visit.

“There is an increasingly strong appetite for city living here, and the development of this vacant site will transform a local eyesore into a high quality, architecturally designed building that adds significant value to this prized and popular part of the city.

“We look forward to working up our plans over the coming months.”

Phase one of Wilson Bowden’s Full Street development included the refurbishment of the Riverside Chambers office complex; delivery of 46 new apartments at Number One Cathedral Green and a Premier Inn hotel.

The original plan for the vacant plot was for an office complex featuring up to 100,000 sq ft of space.

Now, a planning application for apartments will be submitted by Wavensmere Homes and Wilson Bowden, in consultation with Derby City Council and a range of stakeholders.

The developer, which has been appointed by Clowes Developments to transform the derelict Friar Gate Goods Yard, said it will incorporate the latest green energy features into the design for the new homes.

The designs will also promote sustainable development through the use of low carbon materials, modern methods of construction, and renewable energy generation.

Henry Henson, development manager at Wilson Bowden Developments, said: “We have selected to partner with Wavensmere Homes as the team has a strong understanding and track record of the requirements of Derby’s city residential market.

“We are very proud of the cluster of new buildings we have delivered within the Cathedral Quarter over recent years and look forward to working with Wavensmere Homes on the plans for this project, which will complete the jigsaw of this prime Derby city centre location.”

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