Around 3,300 jobs could be created as a result of the new Derby Triangle regeneration scheme proposed by St Modwen and Network Rail.
The development partners have submitted a planning application to Derby City Council to bring forward the last remaining large area of land at Derby’s Pride Park, the city’s premier business park.
Bounded by Pride Park, Wyvern Retail Park and the River Derwent, the high quality mixed-use proposals for Derby Triangle include approximately 780,000 sq ft of offices, warehouse, industrial and retail space, complementing the existing facilities at Pride Park and building upon its reputation as leading destination for business.
Peter Rudd, senior development surveyor at St Modwen said: “Having been appointed as development partner by Network Rail a year ago, we have been working closely with all stakeholders to bring forward proposals that will build on the success of Pride Park.
“Derby has one of the most highly skilled workforces in the UK, and these employment-led plans will generate over 3,000 new jobs for the region. Once consent is granted, we are aiming to start work quickly in order to deliver the first phase before the end of 2015.”
Stuart Kirkwood, head of development at Network Rail (Property) said: “Network Rail is pleased to see a planning application submitted to Derby City Council for this priority regeneration site following a substantial amount of work between the development partners. The planning application will help lead to the transformation of this 70-acre site, owned by Network Rail, into a business-friendly location aimed at providing high-quality and diverse accommodation, which will create a substantial number of new employment opportunities for the city. Developing our land in a commercial manner also means better value back to the tax payer, and the railway.”
Innes England and Savills are the joint agents for the scheme. Nick Hosking, director at Innes England, said: “This site, formerly known as Chaddesden Triangle, has long been a priority for Derby City Council, completing the Pride Park regeneration project which has proven to be such a success story for the region.
“We are already talking to a number of commercial occupiers, given the lack of supply of new modern space. Indeed, St. Modwen plans to speculatively build a number of light industrial and distribution units early on in its development programme to meet this demand.”