In the approved plan, which was submitted by Godwin Developments, it outlines that 201 BTR apartments would be built on a site in Phoenix Street, Derby. The building, which will be called The Landmark, has been designed to match the growing interest in the property sector from residents and investors, and will support the regeneration plans for the city which were outlined last week by the Derby Economic Recovery Task Force.
The BTR scheme will include a variety of one and two bedroom apartments, along with a range of facilities, including a gym, lounge, guest suite and coffee area. There will also be 47 car parking and 36 bicycles spaces.
Group Land Director at Godwin Developments, Stephen Pratt, commented:
“We are absolutely delighted that Derby City Council approved once again our proposals for The Landmark – in a huge vote of confidence for the city and its ambition for the future.
“We are passionate promoters of Derby and its potential to reinvent itself through attracting additional employment and strengthening its city centre. Our scheme – The Landmark – will be a fantastic extension to Derby’s Future High Street bid and will bring additional investment, jobs and desirable city living into the heart of Derby, while also improving the public realm and flood defences.”
Managing Director of Marketing Derby, John Forkin, added:
“Marketing Derby is delighted that councillors have voted to support the development of The Landmark in Derby. As an organisation, we have supported the developer and their plans every step of the way. Derby will now get the investment and profile it deserves with this ambitious and high-quality development.”
The construction of The Landmark will invest £68 million into the Derby economy, and will also create 900 temporary jobs, whilst the BTR scheme is being built, and roughly 10 to 15 permanent jobs, once it has been completed.
How Nelsons can help
Martin Jinks is a Partner in our Commercial Property team.
A property development can be a long and complicated process. At Nelsons, we would advise that with any small or large scale developments to obtain legal advice as early as possible to overcome any potential hurdles down the line, particularly in relation to planning considerations.
Our expert team in Derby, Leicester and Nottingham can advise on the full range of property development considerations, including:
- Promotion agreements
- Option agreements
- Conditional contracts
- Pre-emption agreements
- Overage agreements
- Infrastructure agreements
- Collaboration agreements
- Ransoms
- Planning
For more information on our services, please call 0800 024 1976 or contact us via our online form.