Wednesday 21 Mar 2012
DERBY BOOST AS NETWORK RAIL ANNOUNCES PARTNERSHIP WITH ST MODWEN TO DEVELOP 70 ACRE SITE AT CHADDESDEN TRIANGLE
- Region & Route:
Network Rail today announced St Modwen has been selected as partner for a joint-venture to develop the 70-acre brownfield site, known as the Chaddesden Triangle, Derby.
Owned by Network Rail and located next to Pride Park, the freehold site is the largest brownfield site in Derby. It has been identified by the City Council as a strategic development site and regeneration priority. It is predicted that developing the Chaddesden Triangle will create hundreds of jobs for the city.
Stuart Kirkwood, head of development for Network Rail said: ‘Network Rail is committed to realising the potential of its estate in order to invest in the railway. This development will create jobs in Derby and drive regeneration. Competition was strong, but St Modwen presented the best overall combination of attributes and as a result has been selected as development partner to form the joint venture. We very much look forward to working with St Modwen to deliver the redevelopment of the Chaddesden Triangle.’
Bill Oliver, Chief Executive of St. Modwen said: “We are extremely pleased to have been chosen by Network Rail as their partner on this prestigious and strategically important development opportunity and look forward to progressing the regeneration of the site.”
There was strong interest in the development opportunity, with the initial round of bidding producing 15 expressions of interest. A shortlist of seven was then compiled, of which St Mowden was selected as the preferred bidder.
Detailed discussions will now commence on the structure of the joint venture and master plan proposals will be submitted towards the end of 2012.
Notes to editors
This site does not include the proposed new depot for Network Rail maintenance staff. These plans are being developed separately and further details will be announced in the coming weeks.
Network Rail iIs one of the largest land and property owners in the country and will generate over £1bn in the next five years from commercial activities for re-investment in our rail estate. This would be enough to transform Birmingham New Street or King’s Cross stations, or put in place 5,000km of new railway.
St. Modwen Properties PLC
- St. Modwen is the UK’s leading regeneration specialist, operating across the full spectrum of the property industry through a network of seven regional offices and a Birmingham based head office.
- The company is wholly focussed upon regeneration with expertise in town centre regeneration, partnering with industry, brownfield land renewal, Innovation Centres and education projects.
Derby Chaddesden Triangle:
- Network Rail own the freehold to the Derby Chaddesden Triangle.
- The site, which adjoins Pride Park, is bounded by the River Derwent to the west, the Wyvern retail park to the east and the railway to the south.
- Derby City Council have identified the land as a strategic development site, and a regeneration priority for Derby.
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