News Archive

ST. MODWEN SELECTED AS DEVELOPMANT PARTNER AT CHADDESDEN TRIANGLE, DERBY

St. Modwen has been selected by Network Rail as the preferred bidder for the formation of a joint venture for the redevelopment of the 70 acre brownfield site known as Chaddesden Triangle, Derby.

Owned by Network Rail, the freehold site is located next to Pride Park and has been identified by the City Council as a strategic development site and regeneration priority for the area.

Interest in the development opportunity was strong with the initial round of bidding producing 15 expressions of interest.  From these responses a shortlist of seven was selected and, following further submissions and interviews, St. Modwen was selected as the preferred bidder.

Stuart Kirkwood, Head of Development for Network Rail said: “This site offers the potential to create new employment opportunities in Derby and support the wider regeneration plans for the area. Competition was strong, but we felt that St. Modwen presented the best overall combination of ideas and attributes that we were looking for in a Joint Venture partner and as a result has been selected as preferred bidder.  We were delighted with the response we had to our marketing and very much look forward to working with St. Modwen once the legal negotiations are complete, to bring about the redevelopment of this key site.”

Bill Oliver, Chief Executive of St. Modwen said: “We are extremely pleased to have been chosen by Network Rail as their partner on this prestigious and strategically important development opportunity and look forward to progressing the regeneration of the site.”

Detailed discussions will now commence on the structure of the Joint Venture and masterplan proposals will be submitted towards the end of 2012.

At the same time, Network Rail is currently tendering a project to build a new Derby Maintenance Headquarters building at nearby Chaddesden Sidings, Derby to accommodate over 400 employees.