Network Rail, St Modwen secure approval for Derby Triangle development
July 15, 2107 – Network Rail and regeneration specialist St Modwen have secured planning permission for the construction of a mixed-use development, known as the Derby Triangle.
Located adjacent to Derby’s Pride Park development, the 50-acre brownfield site is being developed by Network Rail and St Modwen.
The project will deliver about 780,000 sq ft of offices, warehouses and industrial space as well as a pub, restaurant and car showroom, with an easy access to the existing road and motorway network.
Network Rail said that 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.
When obtained, site clearance work is anticipated to start in late 2017, with occupation of the first new commercial spaces expected at the end of 2018 or beginning 2019.
The development is expected to create around 3,300 permanent jobs in Derby and up to 100 construction jobs per year of development.
St. Modwen development director Peter Rudd 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.”
Network Rail Property managing director David Biggs 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.