Phase one of the £200m Becketwell Derby regeneration scheme has been shortlisted for two major awards.

The scheme, which is being brought forward by Leeds-based developers St James Securities, has been shortlisted for Commercial Property Deal of the Year at the 2022 Property Awards and Investment Deal of the Year at the Midlands PROPS Awards.

The Property Week awards are the UK’s most prestigious awards dedicated to the full spectrum of the commercial property industry. Becketwell Derby is one of only three schemes in the Midlands and the only scheme in the East Midlands to be shortlisted for this coveted award, which recognises those innovative ground-breaking deals that have been completed despite the challenges posed by the pandemic.

Other finalists include St Michael’s Development, Manchester; Hampton Brook Logistics Park, Milton Keynes; Touchwood Shopping Centre, Solihull; 50 Finsbury Square, London, and Bloom Clerkenwell, London.

Phase one of the scheme has also been shortlisted for the Investment Deal of the Year at the inaugural Midlands PROPS Awards, which recognise those leaders making a difference in the world of Midlands real estate.

Other finalists are MEPC for the purchase of the Octagon residential tower at Paradise, Birmingham and The Galliard Apsley Partnership for funding new homes for Soho Wharf Regeneration scheme in Birmingham.

Phase one of the exciting Becketwell scheme includes the construction of Derby’s first purpose-built build to rent (BTR) apartments on the site of the former Debenhams store on Victoria Street, which will be funded, acquired, and operated by Grainger plc, market leader in the UK build to rent and private rented sector.

The development will comprise of 259 one and two-bedroom apartments, which will be adjacent to a new multi-purpose public square, which will be the centrepiece of the development.

The BTR scheme will offer a range of resident amenities, including a rooftop terrace and ground floor amenity space.

There will also be an onsite Resident Services team, gym, and separate co-working space, along with secure car parking, bike storage and electric car chargers. Two commercial units will also be available.

Construction work on phase one began in July 2021, with work set to be completed by early 2023.

Demolition work is currently underway for phase two, which will comprise a new 3,500 capacity performance venue on the site of Laurie House offices and the former Pink Coconut nightclub.

Future planned phases of the scheme include the potential for a range of other complementary uses of the site including new grade A offices and commercial space, a hotel and a multi-storey car park and purpose-built student residential.

The winners of the Midlands PROPS Awards will be announced at a special event at Birmingham’s Grand Hotel on Thurs 28 April. The Property Week Awards take place on June 7 at Grosvenor House Hotel in London.

Speaking about being shortlisted for the Commercial Property Deal of the Year and Investment Deal of the Year award, Paul Morris, development director at St James Securities, said:

“For Becketwell Derby to be shortlisted alongside some of the most high-profile deals concluded across the UK over the past 12 months on both a regional and national level is a real vote of confidence in the work we are doing in Derby and reflects our ambition to breathe new life into an area of the city that has been neglected for many years.

“Phase one of the scheme is progressing at an incredible pace and will be transformational for Derby, allowing hundreds of people to live in high-quality homes in the heart of the city and contribute to improving the overall vibrancy and attraction of the city centre.”

Funding for the Becketwell project includes £8.1 million in Local Growth Fund investment from the D2N2 Local Enterprise Partnership, the private sector-led partnership of business, local authorities, skills and training providers, and community and voluntary services which works to promote economic and jobs growth across Derby, Derbyshire, Nottingham, and Nottinghamshire.