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DERBY CITYSCAPE BROKERS KEY ACQUISITIONS
Derby Cityscape has successfully led negotiations to buy five sites which are key to its future plans for redeveloping Castleward – a major part of the overall £2 billion regeneration of the city centre
Derby Cityscape and its key partners Derby City Council, East Midlands Development Agency (emda) and English Partnerships (EP), have secured a total of 41,000 sq ft through the acquisition of five properties in the area occupied by – Nationwide Autocentres Ltd, Derby Small Business Centre, Highfield Joinery Ltd and A.J Bussell & Sons for an undisclosed sum.
For English Partnerships this is the biggest involvement to date with Derby Cityscape and is a significant step in facilitating quality land supply for future sustainable development in the Castleward area.
Derby Cityscape’s Chief Executive John Cadwallader, explained, the acquisitions in Castleward are an important step forward in the future plans for the area.
“Castleward is a complex area due to its current mix of small businesses, surface car parks and some disused land. The acquisition of these sites will greatly benefit our efforts to progress our plans, market the area and secure a lead developer who we aim to appoint by the end of this year.”
Plans for the 39 acre Castleward area, which is strategically located between Pride Park and Westfield Derby, include an urban village consisting of 2,500 new apartments and family homes with a boulevard linking the railway station to the city centre. The community will also
benefit from new open spaces and improved facilities including retail and employment opportunities.
English Partnerships and emda have been working with Derby Cityscape in order to find suitable sites for the businesses based at Castleward. The former BOC site, which is being developed by Cedar House Investments under the banner of Axion Business Park, was identified as one of the preferred locations.
Anthony Payne, emda’s Land and Development Director, said: “We purchased two properties as part of a phased approach to assembling land required for the Castleward redevelopment. It is important to acquire land and buildings when they become available to move the overall scheme forward”
As a further contribution to the Castleward redevelopment, emda purchased part of the former BOC site on Raynesway in Derby last December. This is intended to provide relocation opportunities for businesses that are affected by the Castleward redevelopment.
Derby Cityscape has consulted with the existing 90 businesses in Castleward and has so far identified 12 companies that are interested in moving to the former BOC site. This will ensure that many jobs are retained within the city. The move will also give some of the relocating businesses the opportunity to expand.
Graham Dobbs, East Midlands area director for English Partnerships, added: “Through purchasing properties on this site we are unlocking potential for sustainability by enabling a boulevard and the first phase of the development to be put into place. This will offer a safe and secure pedestrian strip linking the main transport hub with the excellent new shopping centre and rest of the city, further raising the quality of land available in the area.”
John Cadwallader continued: “The plans for Castleward are radical and exciting and we aim for work to start on the first phase of development in 2010. This will include 191 apartments, 35 family houses, a 600 space multi-storey car park, 77,000 sq ft of commercial office space and around 40,000 sq ft of retail and leisure facilities.
“We are confident that plans for Castleward will progress significantly throughout this year to mark the first stage in the much-needed regeneration of this key area in the city centre.”
Editors Notes
Established in 2003 Derby Cityscape is an urban regeneration company working closely with public and private sector partners attracting £2 billion of investment into the city centre.
Derby Cityscape’s Masterplan was launched in January 2005 outlining the vision for the future of Derby City Centre. In February 2005, Derby City Council Cabinet resolved to adopt the Masterplan as a guide to the City Council’s regeneration plans for the city centre and for it to be considered as a material consideration in determining planning applications.
Derby Cityscape is a limited company supported by Derby City Council, East Midlands Development Agency (emda) and English Partnerships (EP).
About emda
East Midlands Development Agency (emda) is one of nine Regional Development Agencies in England, set up in 1999 to bring a regional focus to economic development.
Working in partnership with public, private and voluntary organisations the aim is to deliver the 2006 Regional Economic Strategy (RES) ‘A Flourishing Region’, which sets out regional priorities until 2020.
The RES, coordinated by emda, highlights the themes of productivity, sustainability and equality and builds on the previous two strategies; ‘Prosperity Through People’ and ‘Destination 2010’.
In early 2007 the National Audit Office announced emda had received the highest possible grade of 'performing strongly' in an independent assessment of our work - scoring 22 out of 24. For more details visit www.emda.org.uk
About EP
English Partnerships is the national regeneration agency helping the Government to support high quality sustainable growth in England by creating well-served mixed communities where people enjoy living and working.
We achieve this by unlocking and increasing the supply of land - particularly surplus public sector sites - to meet housing and other growth needs. Through innovation and raising standards we help improve quality of life and enhance the environment.
In collaboration with the Housing Corporation, the Academy for Sustainable Communities and Communities and Local Government we are establishing the new Homes and Communities Agency that will begin operating in 2009.
For more information on our work, please visit www.englishpartnerships.co.uk.