The developer behind the £200m regeneration of Derby’s Becketwell area has sold three buildings in Green Lane. St James Securities has sold the properties to Derby property company Berry Group, which plans to turn them into a mixed-use development – with ground floor commercial units at the front and residential accommodation on the rest of the site.
The properties were originally owned by Debenhams when it traded from the department store which is now home to The Condor – A 259 Grainger apartment scheme, which will launch next month. As part of the area’s regeneration, tracks of land behind The Condor needed to be reconfigured resulting in the disposal of numbers 22-24, 36 and 46-48 Green Lane.
The Becketwell regeneration is the most significant urban scheme of its kind in the city for more than three decades.
Phase one is the delivery of The Condor, the city’s first purpose-built, Build-to-Rent scheme, which will be owned and operated by Grainger, the UK’s biggest listed provider of private rental homes. There will also be a new public square.
Phase two of the scheme includes a £45.8 million, 3,500-capacity performance venue, which will be operated by ASM Global.
Future phases could include a hotel, further residential accommodation, a multi-storey car park and purpose-built student accommodation.
The Green Lane transaction was brokered by Russell Rigby of Derby-based commercial property consultants Rigby & Co.
Paul Morris, development director at St James Securities, said: “We are pleased to have concluded the sale of these three very interesting buildings.
“The Berry Group have the required experience and skill set to reactivate these long vacant properties to provide a mixture of commercial and residential space as part of the on-going re-energisation of Derby city centre.”
Alex Cockayne, commercial director of the Berry Group, said: "We are delighted to have purchased these three properties from St James Securities and thank both Rigby & Co and St James Securities for their dealings and co-operation throughout the conveyancing period.
“We are now thrilled to focus our attention on bringing these derelict buildings, which have been empty for over 15 years, back to life.
“These buildings will play a part within the Becketwell regeneration scheme and provide Derby city centre with some much-needed high end accommodation and fresh commercial space.”
St James Securities have completed big projects including St Paul’s Place in Sheffield and the Round Foundry in Leeds.
