Wednesday 12 Jul 2017
Derby Triangle development set to create 3,300 permanent jobs
Around 3,300 permanent jobs are set to be created in Derby after a resolution to grant outline planning permission was received on a major mixed-use development known as the Derby Triangle.
The 50-acre brownfield Derby Triangle site is being developed by Network Rail and regeneration specialist, St Modwen and will also create up to 100 construction jobs per year of development.
Located adjacent to Derby’s Pride Park development, the scheme will deliver approximately 780,000 sq ft of offices, warehouses and industrial space as well as a pub, restaurant and car showroom, with excellent links to the existing road and motorway network.
The joint venture scheme will provide a substantial jobs boost to the area, and will ensure future regeneration and economic growth.
Outline planning consent for the scheme is subject to the completion of a Section 106 agreement and Section 278 agreement which are expected to be finalised by the end of August. Once received, site clearance work is anticipated to start in late 2017, with occupation of the first new commercial spaces expected at the end of 2018 / beginning 2019.
Outline planning permission will coincide with the start of the A52 Wyvern Transport Improvement Scheme carried out by the City Council, which will further improve links and access to the site and is expected to be completed within 18 months. As part of the planning agreement, Network Rail and St. Modwen will make a financial contribution towards the A52 scheme.
Peter Rudd, Development Director at St. Modwen, said: “This is a major milestone for the progression of our joint venture with Network Rail and comes following detailed discussions with the City Council since 2014.
“We have already received significant interest from potential occupiers and expect this to increase now that progress with planning has been made. There is a lack of new employment space in the city and, in collaboration with Network Rail, we plan to fill this gap, meet occupier demand and create jobs.”
David Biggs, Managing Director, Network Rail Property, said: “We are working in close collaboration with our development partner St. Modwen to progress this ambitious project which promises to deliver thousands of new jobs and provide vital commercial space in Derby. Our partnership approach to unlocking land is something we are replicating across the country to support economic growth and encourage wider regeneration in our towns and cities.
Councillor Martin Rawson, Cabinet Member for Communities and City Centre Regeneration at Derby City Council also commented: "The Derby Triangle regeneration scheme proposed by St. Modwen and Network Rail will bring significant benefits to the city in many ways, including employment, with the generation of over 3,000 new jobs for the region, and will also contribute positively towards the local authority's economic strategy.”
For more information visit www.derbytriangle.co.uk
Notes to Editors
About Network Rail Property
Network Rail Property is the land and commercial property division of Network Rail, tasked with generating funds to be reinvested back into the railway. Our projects help deliver transport and station-led regeneration, housing, jobs and economic growth.
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About St. Modwen Properties PLC
St. Modwen is the UK’s leading regeneration specialist. The company operates across the full spectrum of the property industry from a network of regional offices, a residential business and through joint ventures with public sector and industry leading partners.
The Company is focussed wholly upon regeneration with an outstanding 30 year track record of adding value by managing schemes through the planning process, remediating brownfield land and active asset management and development.
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