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
About Network Rail
Network Rail owns, manages and develops Britain's railway - the 20,000 miles of track, 40,000 bridges and viaducts and the thousands of signals, level crossings and stations (the largest of which we also run). In partnership with train operators we help people take more than 1.65bn journeys by rail every year and move hundreds of millions of tonnes of freight, saving almost 8m lorry journeys. We employ 38,000 people across Britain and work round-the-clock, each and every day, to provide a safe, reliable railway.
About the Railway Upgrade Plan
The Railway Upgrade Plan is Network Rail's investment plan for Britain's railways. It makes up two-thirds of Network Rail's £40bn spending priorities for the five years to 2019 and represents the biggest sustained programme of rail modernisation since the Victoria era. It is designed to provide more capacity, relieve crowding and respond to the tremendous growth Britain's railways continue to experience; passenger numbers have doubled in the past 20 years and are set to double again over the next 25 years - so we need to continue to invest in building a bigger, better railway. For passengers, that means:
- longer, faster more frequent trains;
- better, more reliable infrastructure; and
- better facilities for passengers, especially at stations.