St James Securities is seeking forward funding to deliver Derby’s first build-to-rent project at One on the Square, part of the Becketwell regeneration.
The Leeds-based property developer has instructed BTR Capital Partners (formerly part of LIV Group) to bring the scheme to the market, seeking £38.75m for the 264-home project.
The development has a GDV of £42m and is expected to be the first BTR scheme to come forward in the city. Godwin Group is also working to bring forward 201 BTR apartments at The Landmark, which is set to be Derby’s tallest tower at 17 storeys.
One on the Square sits within SJS’s wider Becketwell masterplan, which was launched by Derby City Council in 2016 with an expected investment value of £210m.
This includes a landscaped public square, 270,000 sq ft of commercial space, a hotel, leisure outlets and a multi-storey car park. It seeks to create a total of 1,900 homes and 4,000 jobs, and attract £3.5bn in investment by 2030.
Paul Morris, director at SJS, said: “We have worked tirelessly along with Derby City Council to ensure we are delivering something outstanding that will serve the city well for decades to come.”
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