St James Securities detailed planning permission has been granted for the first phase of the £200m regeneration of the Becketwell area of Derby city centre, with development work to start in late spring.
The Leeds-based company will now be able to start to work-on phase one of the scheme (pictured), which includes the construction of 259 build to rent apartments on the site of the former Debenhams store on Victoria Street.
A new high quality public square on the site of the former Central United Reformed Church remains the centrepiece of the development and will also be delivered as part of the first phase.
Work is already well underway to bring forward a second phase to comprise a new 3,500-capacity performance and conference venue on the site of Laurie House offices and the former Pink Coconut nightclub.
Future planned phases of the scheme include a range of other complementary uses of the site including up to 25,000 sq. m of new grade A offices and commercial space, a hotel and a multi-storey car park.
The regeneration of the Becketwell area is expected to bring numerous benefits to the city, including a repopulation of both office workers and residents to the city centre which will help boost activity outside of traditional retail hours.
It is also hoped that the substantial levels of investment proposed at Becketwell will provide confidence for further new investment in surrounding areas of the city centre.
More than 2,000 jobs are expected to be created by the development.
Paul Morris, development director at St James Securities said, 'We are delighted that planning has been granted for what will be a landmark regeneration scheme for the city.
'We and our wider team of consultants have been working on the scheme for more than three years. To receive a unanimous decision from the planning committee is a vindication that our scheme is the right fit for the city and will provide the impetus to kick-start further investment.
'The Becketwell regeneration scheme is now set to move from being an aspiration to a reality. We look forward to working alongside Derby City Council and our other private sector partners to deliver a scheme that will revitalise a long-neglected area of the city and contribute to improving the vibrancy and attraction of the city centre overall.
'Gaining detailed approval will mean that we can now get onto site. At present, the programme is showing a start of works in May, with completion at the start of 2023.'