After a long and controversial debate, Derby City Council’s planning committee last night finally granted planning consent for the Landmark building in Derby city centre, a deal which was put together by BB&J Commercial.
To be built by Godwin Developments, the Landmark building is a 17-storey project which will provide around 200 high quality built-to-rent apartments costing £30m, generating an estimated £68m of economic benefits and support around 900 construction jobs.
Mark Richardson, Partner at BB&J Commercial commented “It has been a long and bumpy road to get planning consent on this scheme with the original deal agreed some four years ago. It is great to see the planning committee have recognised the importance of bringing development to Derby. The impact of this scheme cannot be overstated. Had it been refused consent, the message it would have sent out to other developers about Derby would have been very negative. To their immense credit the planning committee have recognise its vital importance and granted consent.”
“Additionally, there has been a huge groundswell of support for this scheme from local businesses and others who recognise the massive economic and social benefits that this scheme will bring to Derby. Let’s hope that along with the redevelopment of the Debenhams site by St James Securities, this is now the springboard for Derby to tap into its rich potential. Every city needs to embrace change and whilst there are inevitably a range of opinions about development, sometimes we just need to put aside our personal thoughts and think of the greater good.”
The Landmark Scheme will comprise a mix of one and two bedroom apartments together with extensive amenities for residents such as a gym, concierge, lounge etc and more specifically be aimed at the professional sector.
Mark commented, “It has long been said that many people who work in Derby don’t live here, and money flows out of the city. The provision of these high quality apartments will help to ensure that professionals who work in Derby will also have the opportunity to live in the city and as such will help to retain spending power within the city centre thus having a secondary knock on effect to the benefit of the shopping and hospitality economies.”