Regeneration and development company UK Regeneration (UKR) is to receive around £8m from the Homes and Communities Agency.
The money will be used to kickstart development on its 300-home urban village on the former Derby Royal Infirmary site in the East Midlands city.
Speaking at the Derby Property Summit, chief executive Jackie Sadek said that with funding in place work, would start on site “within weeks” on the proposed Nightingale Quarter.
Sadek said: “We are starting work ahead of schedule. Our HCA funds are in place and we are appointing a demolition team to prepare the groundwork, with a strict ‘keep the towers’ remit. The pepper pot towers add greatly to the character of the site and are a genuine local landmark.
“Nightingales is an exemplar site for UKR’s urban village developments planned for key locations across the UK.”
UKR signed an exclusivity deal with Derby city council in March this year to unlock the company’s private sector housing model in the city at the eight-acre site.
Plans also include retail, restaurants and other amenities. UKR is now seeking consent for the scheme.
UKR’s model is to build private homes on infill sites for long-term rent. It has plans in place for its first 20 developments across the UK and aims to deliver 20,000 homes by 2020.
The UKR team working on the Derby Nightingales development includes Barclays Capital as senior adviser on debt and equity investment, agent Innes England, Wragge & Co, Assael Architecture and planning consultant Capita Symonds.
lisa.pilkington@estatesgazette.com
