The UK’s leading regeneration specialist, St. Modwen has agreed the purchase of a 204 acre site at Clay Cross, Derbyshire, paving the way for the creation of a high quality mixed use development.
Situated south of Chesterfield, the site was sold by Administrators from PwC in the Midlands.
The location has been designated as a key development area within the district of North East Derbyshire and the site benefits from outline planning consent for the creation of a high-quality, mixed-use regional regeneration scheme, comprising up to 980 homes, 270,000 sq ft of employment space, a hotel and a local centre.
The site comprises three areas, the former Biwater Pipeworks, land off Derby Road, and a former tip, which is to be redeveloped into sports pitches and a pavilion.
David Dodge, senior residential development surveyor at St. Modwen, said: “The site at Clay Cross represents a significant opportunity for St. Modwen, consistent with our proven strategy of acquiring and transforming well-located brownfield sites into high quality schemes.
“St. Modwen has the expertise, extensive experience and the financial strength to deal with complex and challenging sites such as this one, to deliver housing, new commercial and community improvements such as the sports pitches and pavilion. We deliver developments and generate jobs both through construction and through property development. We operate across all sectors of the property industry focusing upon long-term value enhancement through the development of commercial property and residential land.”
Eddie Williams, Director at PwC East Midlands added: “By using our in house property specialists and with the support of our advisors at CBRE and DLA, we are delighted to have concluded the sale of this site at Clay Cross to national regeneration and development specialist, St. Modwen. We have every belief that St. Modwen can and will deliver the inward investment and regeneration that the community of Clay Cross deserves.”
North East Derbyshire District Council is committed to securing the long-term regeneration of the site.
Cllr Pat Kerry, the council’s lead member for Economy, Finance and Regeneration, welcomed the news. He concluded: “This is a key development site that will deliver much-needed homes and jobs and attract new investment into North East Derbyshire.“We have remained committed to realising the potential of this site and news that its future has been secured is excellent for the district’s economic future.”