Investment News | 18 October 2023

Third phase of homes at £100m Castleward scheme unveiled

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The latest phase of new homes being built as part of the £100 million Castleward development have been unveiled.

Regeneration specialist Compendium Living, along with its partners, which include Derby City Council, Lovell, and the D2N2 Local Enterprise Partnership, have officially opened the doors to the show apartment and view home on the third phase of the scheme.

The latest phase consists of 82 properties, including 55 for open market sale through Compendium Living and 27 affordable homes for Riverside.

Bruce Lister, managing director at Compendium Living, said: “We are very proud to have officially opened the third phase of Castleward with our partners.

“This regeneration scheme demonstrates the benefits partnership working brings the local economy and community, as it is revitalising an underused area and offering a variety of high-quality homes.

Councillor Nadine Peatfield, the city council’s cabinet member for city centre, regeneration, culture and tourism, said: “It’s great to see more progress continuing at Castleward.

“This is a major regeneration project for Derby, providing an attractive and welcoming gateway to the city centre, alongside education facilities, retail space and high-quality accommodation.

“This is a key area of the city with a lot of potential, and we were delighted to celebrate this milestone with our partners and look forward to working with them to deliver future phases of this new community.”

Located between the Derbion shopping centre and Derby Midland Station, the Castleward regeneration scheme is one of the city’s largest housing projects.

In total, 800 new homes are being provided, alongside green open space and 35,000 square feet of commercial retail space.

The homes are being built by Compendium Living’s construction partner Lovell.

Bruce said: “At Compendium Living, we are hugely invested in Derby and in transforming the former brownfield site of Castleward into an exciting, sustainable community where people can be proud to live and work.

“Castleward is a very important project for us, and we are thrilled to have celebrated this milestone with our partners.”

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