Derby set for build-to-rent tower
Derby is set for a prestige build-to-rent scheme that will see 200 apartments being established in what will be the tallest building in the city.
Developer Godwin is proposing the 17-storey development, called The Landmark, for a site on Phoenix Street in the city centre. Plans have gone on public display as part of a public consultation, with the feedback set to help with the fine-tuning process before the plans are finalised and a planning application is made.
Group land director Stephen Pratt said: "We are really excited to be bringing this scheme to Derby.
"The economic, social and cultural regeneration of the city is impressive and we believe The Landmark will be a market-leading city living development. We would welcome feedback from the business community and look forward to being part of the Marketing Derby Bondholder community."
If the scheme goes ahead, it will be a major landmark in the city, not just for its height above all the existing buildings in Derby, but as a significant development in the growth of rent-to-build in the East Midlands.
The company has already got 1,100 apartments in the pipeline, and in addition to developments in Manchester and Liverpool it is building some in Leicester.
Overall, the East Midlands has been a very small player in the build-to-rent sector recently. A survey produced last week by the British Property Federation and Savills revealed that of the 118,000 units either completed, under construction or in the planning pipeline in the last 12 months, the region accounted for just 1,500. This compared with just over 60,000 in London and more than 29,000 in the north west.
The region may become increasingly attractive to the private rental scheme industry as the construction of phase 2 of HS2 approaches.
Derby lies just west of the station at Toton that will serve it and Nottingham and while the latter city will be able to easy link up the station with its suburbs and city centre through an extensive tram system, planners in Derby are still considering their options for enhanced transport links.