St James Securities, the developer behind the £200m regeneration of the Becketwell area of Derby, has appointed Peveril Securities as development partner for future phases of the scheme.
Future phases of the scheme are set to include new grade-A offices and commercial space, a hotel and a multi-storey car park.
Work on phase one of the Becketwell scheme is currently under way, with the construction of 259 one and two-bedroom flats on the site of the former Debenhams store on Victoria Street.
In October 2021, Derby City Council granted planning permission for a new 3,500-capacity performance venue on the site of the former Pennine Hotel, Pink Coconut nightclub and Laurie House offices. Demolition work will commence in March, with construction set to commence in January 2023 and completion and handover to the operator in late 2024.
Paul Morris, development director at St James Securities, said: “This is another significant financial commitment from a very well respected and locally-based company, which is one of the biggest players in the region. Its financial strength secures the future of the site and will enable us to forge ahead with multiple projects at the same time.”
Ralph Jones, managing director of Peveril Securities, added: “We have been following the progress of the Becketwell area of Derby with interest over the past couple of years look forward to bringing our financial strength, development and construction expertise to this exciting project.”
Funding for the Becketwell project includes £8m in Local Growth Fund investment from the D2N2 Local Enterprise Partnership.
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