£200m city centre scheme moves forward
Multi-million pound plans to regenerate a Derby city centre site have taken a step forward.
Developer St James Securities has submitted a reserved matters application for detailed planning consent for 259 apartments at Becketwell and, subject to approval, hopes to make a start on building work in the spring.
St James Securities also intends to create offices and commercial space as part of an investment of more than £200m and has partnered with Derby City Council to deliver a new 3,500-capacity performance and conference arena on part of the site. The development is expected to create more than 2,000 jobs.
Demolition of the former Derby Debenhams store which occupied part of the site was completed earlier this year and now the reserved matters application for the apartments that, together with the public square, will form phase one of the scheme, has been lodged.
St James Securities development director Paul Morris said the company was in advanced discussions with funders for the scheme and hoped to be able to announce the name of its backers soon.
He said: “It was great to see the old Debenhams building come down. It’s about momentum and the building coming down was a statement.
“Gaining detailed approval will enable us to get on to site. At the moment, the programme is showing a start on work in April, with completion at the end of 2022.
“We are looking forward to delivering a quality scheme that will help revitalise a long-neglected area of the city and contribute to improving the vibrancy and attraction of the city centre overall.”