Investment News | 16 October 2024

Developer gets go-ahead for £30m riverside apartments scheme

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Plans to create a £30 million riverside apartments scheme in Derby city centre have been given the green light.

Wavensmere Homes, along with Wilson Bowden Developments, has been granted permission by Derby City Council to build the Cathedral One scheme on vacant land in Full Street, overlooking the River Derwent, in the Cathedral Quarter.

Situated on a 0.2-hectare site, the development will feature 195 studio, one- and two-bedroom apartments, set within a finely detailed u-shaped nine-storey red brick building.

James Dickens, managing director of Wavensmere Homes, said: “This challenging brownfield site, which has lain vacant for over a decade, occupies one of the best locations within Derby city centre and benefits from rich views of the Cathedral Quarter and the River Derwent.

“The city council’s planning committee took on board how our plans reflect stakeholder feedback and are within the confines of the extant office planning permission.

“Receiving the go-ahead will help Derby to meet the high demand for new homes – and improve its five-year housing land supply.”

John Forkin, managing director of Marketing Derby, which submitted letters to the council supporting the scheme, said: “Wavensmere is one of Derby’s trusted development partners with a track record for delivering quality homes and we are delighted that permission has been granted for this important city living scheme.”

The development site was previously occupied by a police station, which was constructed in the 1960s and demolished in 2013.

Phase One of Wilson Bowden’s Full Street development was completed in 2016.

It includes the refurbishment of Connect Derby’s Riverside Chambers office complex, delivery of 46 new apartments at Number One Cathedral Green, and a Premier Inn hotel.

Prior to it being re-planned and brought forward by Wavensmere Homes, this remaining parcel of land had been earmarked for a speculative office development of up to 100,000 sq ft.

Wavensmere Homes is the developer behind the £175 million Nightingale Quarter residential scheme, which is delivering hundreds of homes on the site of the former Derbyshire Royal Infirmary.

It is also due to start work on the £75 million transformation of Friar Gate Goods Yard into a mixed-used scheme.

James said: “As with nearby Nightingale Quarter and Friar Gate Goods Yard, we will construct an exemplary development, reflective of the prime gateway location.

“By appropriately densifying this derelict brownfield site, we will create highly energy-efficient homes for well over 200 people, who will then spend their time and circa £5 million of disposable income per year locally.

“Prior to that, our construction programme will generate around 150 jobs.

“We look forward to continuing to work with Derby City Council to prepare for a start on site as soon as are able to.”


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