Investment News | 21 July 2021
Green light given for major Derby apartments scheme
Plans to create more than 250 new apartments in Derby have been given the green light.
Elevate Property Group will build 258 apartments at Castleward after being granted planning permission by Derby City Council for phases one and two.
The first phase of the scheme will provide 94 apartments on the corner of John Street and Castleward Boulevard.
The second phase will include 164 apartments in a five and seven storey building on the adjacent site, currently a car park.
Elevate will offer a range of one, two and three bedroom and studio-style apartments across the 1.55-acre site, which sits between Liversage Street and John Street.
As part of the full planning consent, the firm will contribute to local educational projects as part of the agreed Section 106 payment.
Elevate first put forward proposals to develop the two adjoining plots of land in 2018.
Liversage Street has been the location of a sawmill and an historic manufacturing and residential site that has seen successive changes during the past 200 years.
David Hofton, sales and marketing director at Elevate Property Group, said: “We see this as a giant leap forward for Derby and we anticipate that the scheme will appeal as much to first-time buyers as to down-sizers and investors – indeed anyone looking for attractive accommodation in an ideal location for those working in the city centre or commuting via rail.
“The new homes will be ideally located between the city centre and the railway station, contributing a valuable new source of quality housing in central Derby.”
John Forkin, managing director of Marketing Derby, said: “The granting of planning by Derby City Council is really excellent news and another important step in growing Derby's city living offer – an essential part of our recovery strategy.
“Elevate has a credible track record for delivering top quality residential schemes and we know they have put considerable effort into designing something special that will contribute to a vibrant community living on the city's southside.”
