Properties selling fast at new apartments scheme

A third of the properties which make up the first phase of a new £50 million apartments scheme in Derby have already been reserved.

35% of the initial 94 apartments released at The Silk Yard scheme have been snapped up off-plan by a mix of first-time buyers, young professionals, couples, investors and downsizers.

The scheme is being built on the corner of John Street and Castleward Boulevard by Elevate Property Group.

Once complete, it will feature a mix of 258 studio, one-, two- and three-bed apartments.

The scheme complements the wider regeneration of the Castleward area.

Derby City Council is working with regeneration specialist Compendium Living, housing firm Lovell and housing association Riverside, to create Castleward Urban Village, with the aim of delivering more residential space and driving an increase in city living.

At the Silk Yard, a new sales suite has opened, which shows what the site will eventually look like and includes a scale model of the scheme, CGIs of the overall development and a first look at specification purchasers can benefit from.

David Hofton, sales and marketing director at Elevate Property Group, said: “The Silk Yard is one of Derby’s most iconic urban regeneration projects and fits perfectly with our ethos of bringing city centres back to life with a historical nod to the past.

“The steel framework for the first block is clearly visible and marks an important visual milestone in the development.”

Kerri Bywater, from sales agent Bagshaws Residential, said: “In the last month or so, we have seen a swathe of investment in the area, including Rolls-Royce’s 1,200 jobs boost at Raynesway, a £45.8 million performance venue in the heart of the city and the University of Derby’s new business school that will house 6,000 students by 2030.

“All of this means, the scheme is being very well received by local buyers, as well as investors from out of town.”