Latest News | 11 April 2022

Work begins on third phase of £100m Castleward scheme

Share this post:

Work on one of Derby’s key residential schemes has advanced to its third phase, according to the joint venture delivering it.

The £100 million Castleward scheme is housing provider’s Lovell Partnerships’ ongoing joint venture with housing association Riverside through the Compendium brand.

The development is set to create 800 homes over the next two decades to meet growing demand for high-quality housing in the city.

The mixed tenure third phase of work at Castleward will see former brownfield land in John Street transformed into a mix of one- and two-bedroom apartments and maisonettes, with 55 no sale units and 27 units being provided to Riverside as affordable housing.

Chris Timmins, area director for Lovell Partnerships in the East Midlands, said: “Currently, there is a huge demand for city housing, which means we have to think creatively about how we can use derelict or unused land in cities to maximize space.

“Castleward is an impressive venture where we have a real opportunity to revitalise a small part of Derby and create a multi-faceted community that local people can be proud of.”

Each home being built has been designed to appeal to first-time buyers, downsizers, commuting professionals and growing families.

In addition to housing, Lovell Partnerships will transform the wider Castleward development into a vibrant community that consists of new retail stores, coffee shops, parks, and a new primary school that will revitalise this previously unused part of Derby.

Chris said: “There are currently more than 200 homes that have been successfully built and occupied in the Castleward area, which a clear demonstration of the strength of the local property market.

“We can’t wait to welcome more individuals and families into the community we’re creating here.”

The development, which sits between the Derbion shopping centre and Derby Midland Station, will see 15 to 20 years of redevelopment.

During this time, new green space will be generated alongside 35,000 sq ft of commercial retail space.

Ian Woodland, regional development lead for The Riverside Group, said: “Riverside remains fully committed to Castleward, having seen the difference to residents’ lives the new homes have made.

“Not only is the location fantastic, being so close to so many facilities, but the design and quality of the homes themselves are excellent and very distinctive.

“Having new facilities, such as the recently opened school, is really creating a wonderful new community in the heart of Derby.”

Bruce Lister, managing director (designate) of Compendium Living, said: “We are thrilled that work has commenced on the next phase of Castleward.

“Our commitment to Derby over the last eight years has enabled us to provide a wide selection of much-needed homes, alongside a variety of commercial premises, in an area which guarantees a sustainable future for residents.

“We are delighted to be furthering our investment in the regeneration of Castleward and look forward to helping future residents into homes they can feel proud to call theirs.”

Related Articles...

This will close in 0 seconds