Latest News | 29 June 2021
Second phase of £100m Castleward development sells out
One of the businesses behind Compendium Living, which is delivering new homes in the heart of Derby, has revealed that the second phase has now sold out.
Compendium, which is a joint venture between Lovell Partnerships and Riverside Group, is the company behind the £100 million regeneration of the Castleward area of Derby.
The £100 million project, which is being built across a number of phases, will see hundreds of new homes, retail stories, coffee shops, parks and a new primary school built to create a vibrant new neighbourhood.
The completed first phase sold out quickly – and now, Lovell has revealed that all the homes built for the second phase have sold out.
Trish Foster, regional sales director at Lovell, said: “We are really pleased that this phase of Castleward is now fully sold and are looking forward to the next phase in the near future.”
Last month, it was announced that the project, which will create a total of 800 homes across a 30-acre brownfield site, had been shortlisted for a national award.
The scheme was announced as a finalist at the Inside Housing Development Awards, which take place later this year.
The awards celebrate the best residential developments across the UK, with Castleward being shortlisted in the ‘Best development (urban – outside of London)’ category.
The second phase of Castleward is made up of 54 two and three-bedroom homes.
According to Lovell, phase three of the project is ‘coming soon’.
Trish said: “The homes are ideal for first-time buyers, young professionals and buyers looking for excellent commuter links and local amenities.
“Best of all, the scheme is fully revitalising an unused area and creating much-needed modern, high-quality homes for Derby city centre.”
Stuart Penn, regional managing director at Lovell Partnerships, hailed the success of Castleward – and another of its schemes, which involves breathing new life into the former Stourbridge Police Station in the West Midlands.
He believes that both are “excellent examples” of how regeneration can make the most of previously underutilised land to successfully meet demand from a range of buyers.
He said: “Both developments demonstrate the versatility that housebuilders and their partners can apply to successfully regenerate and refurbish complex sites and contribute to solving the current housing shortage.
“We’re delighted that the quality of the offering has underlined that demand and given a new lease of life to a previously underutilised area of Derby, as well as beginning a new chapter for Stourbridge’s former police station.”
