Provided a loan worth £42.9m to a joint venture vehicle with BBS Capital and Wavensmere Homes. The loan will help to fund the development of 474 residential units known as Nightingale Quarter at the site of the former Derbyshire Royal Infirmary in Derby City Centre. The development will comprise 349 apartments and 125 town houses over 3 phases.
Work began on-site in mid-December 2019, with the first phase of sales launching at the end of February 2020. The first houses are scheduled for delivery by the end of September 2020.
The Nightingale Quarter is well located to the southeast of Derby City Centre, fronting on to London Road, Osmaston Road and Bradshaw Way. The site is adjacent to Royal Infirmary Hospital and is a 5-minute walk from the Intu Derby Shopping Centre, and Derby Midland Train Station.
Commenting, Nick Spencer, BBS Capital:
“The Nightingale Quarter will offer Derby residents the best of urban living in a carefully designed community which will offer a large proportion of green space and on-site leisure amenity whilst also paying homage to the historic nature of the site.”