Known as the Chaddesden Triangle, the site is next to Pride Park. It is owned by Network Rail and is the largest brownfield site in Derby. It has been identified by the city council as a strategic development site and regeneration priority.
Network Rail said that there had been 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.
Master plan proposals will now be worked up for submittal towards the end of 2012.
Among the planned developments for the site is a new depot for Network Rail maintenance staff but this is being developed separately and outside the scope of this JV.
Network Rail head of development Stuart Kirkwood 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.”
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