Investment News | 18 October 2023

Work on phase one of £200m Becketwell scheme completes

Share this post:

Construction work on the first phase of Derby’s £200 million Becketwell regeneration scheme has been officially completed.

The recent opening of Springwell Square, a new public square adjacent to The Condor apartments building, in Victoria Street, marks the completion of phase one of the Becketwell project, which is being delivered by St James Securities.

Funded by Derby City Council and the D2N2 Local Enterprise Partnership, Springwell Square will be a vibrant hub for culture, leisure, and social interaction, as well as a place for residents to pause and relax.

Paul Morris, director at St James Securities, said: “We were delighted to welcome representatives from our partners Derby City Council, D2N2 and other key stakeholders to Springwell Square to mark the completion of phase one of the Becketwell scheme, a landmark regeneration scheme for Derby.”

Councillor Nadine Peatfield, the city council’s cabinet member for city centre, regeneration, culture and tourism, said: “Becketwell is a key development for our city centre and the new public square is at its very heart.

“Our aspiration is to make Derby a vibrant place where people want to live, work, and visit and we are now seeing that aspiration become a reality.”

The Becketwell regeneration scheme is the most significant urban regeneration project in the city for more than three decades and will create a vibrant new quarter of residential, commercial leisure activity in the heart of Derby city centre.

Grainger Plc’s The Condor, which is Derby’s first build-to-rent apartments scheme, along with the new public square, represent the first phase.

Work is well underway on the second phase, which involves the creation of a new £48.5 million events and conference venue.

The 3,500-capacity venue will be operated by ASM Global, a leading venue management and services company, and producer of live experiences.

Completion and handover to the operator is scheduled for early 2025.

Mr Morris said: “Over the past six years, we have been real trailblazers, prepared to take on a site that has been challenged for many years and creating a scheme which will revitalise and breathe new life into this area of the city.

“Springwell Square will open up land to the south and bring it back into use. It will be a place where people can meet and relax in an informal space and will improve the vibrancy and attraction of the city centre.”

Future planned phases of the Becketwell scheme include the potential for a range of other complementary uses of the site including a hotel, further residential accommodation, and purpose-built student residential.

Related Articles...

This will close in 0 seconds