Derby law firm signs one of biggest deals in its history
Derby law firm Smith Partnership says it has agreed one of the biggest deals in its history after it was selected as a preferred legal partner in the sale of new homes on the huge Nightingale Quarter development.
Some £800 homes are to be built on the site of the former Derby Royal Infirmary on London Road with a value of £150m.
Work is set to begin on the site in October with properties released for sale in January and first completions in early summer next year.
The new deal between developers, Birmingham-based Wavensmere, and Smith Partnership will mean that legal work on sales should go through in just 28 days.
Wavensmere’s sales director Donna Smith said: “It would have been easy to bring in Birmingham-based partners but we are trying to work with as many local businesses as possible and, as we are both Marketing Derby bondholders, Smith Partnership was a great fit.
“I was impressed by how many people knew the company in Derby. They will be working with us on launching the development and giving advice to clients from the start.
Smith Partnership managing partner, Kevin McGrath, said: “We are thrilled with this deal.
“When we decided to stay in the city centre with our new headquarters on Friar Gate, we were attempting to inspire other people to follow suit.
“So, helping people move into the Nightingale Quarter is entirely consistent with what we have been trying to do in supporting Derby city centre in being a 24-hr destination of choice for people to live, work and enjoy.
“It is one of the deals we are most proud of because of what it means for the city.”
One of the iconic ‘pepper pots’ which have been retained on the DRI site will be given back to the community at a peppercorn rent to house a café and exhibition space and the other will be a sales and marketing hub before being later turned into a gym.