Leicester Developer Reviving “Forgotten” Corner Of Derby
A developer says he is helping breath new life into Derby by transforming empty retail units and their vacant floors.
Atish Parmar, director of Cavendish & London Property Group, is regenerating properties in Wardwick, in Derby’s Cathedral Quarter.
He said one project has been completed, and another is due to start in April. He is also looking for more buildings to buy.
The area surrounding the Wardwick is currently the focus of major regeneration plans, with the £200 million Becketwell scheme, which would create hundreds of build-to-rent apartments, retail units and offices, close by.
Cavendish & London, which is based in Leicester, specialises in creating student and professional accommodation.
Mr Parmar said his company completed its first Derby city centre project after buying the freehold of a vacant unit which was in a poor state of repair. It has now been refurbished and is home to University of Derby students on its upper floors.
He said: “Our main objective is to make this part of the Cathedral Quarter vibrant again. There is a current void within the vicinity and action needs to be taken by private investors like myself to start getting the cogs turning again.
“We believe in bringing residential accommodation back into the city centres, so that local businesses are having a positive impact from the occupiers.
“We have just completed our project on Wardwick which is a retail unit and seven bedroom student accommodation on the upper floors.
“Our next development is taking place in Curzon Street.
“This will be an 18 bedroom luxury student accommodation with large bedrooms all with en-suites, contemporary communal kitchens & lounges with high speed internet for the modern-day student.
“The area has had some great news recently in terms of the Becketwell scheme, we see this as a huge step forward for Derby and we look to help the area by purchasing more properties that are vacant to allow for professionals and students into the centre.
“Good quality accommodation is always needed. Having this within a city centre can only benefit us all.