Funding - 14 June 2016

Latest phase to open at D2N2-backed major Derby development

A new block of 36 apartments on a £100million housing and commercial property development project – invested in by D2N2 – will be officially opened for business this Saturday (June 18).

The two bedroom apartments at Castleward Court are part of development company Compendium Living’s Castleward Derby project, near to Derby train station. When complete, the Castleward project will consist of 800 new homes and 34,550 square feet of commercial space, across 30 acres of land (Dave Bullock, Managing Director at Compendium Living, is pictured at the site).

Phase One of the Castleward development, which included the building of 164 new homes and around 16,500 square feet of commercial space, was completed in July 2015.

D2N2 – the private-sector led Local Enterprise Partnership (LEP) promoting economic growth and jobs creation across Derby, Derbyshire, Nottingham and Nottinghamshire – has invested £850,000 in the Castleward project through its Growing Places Fund (GPF).

GPF is a loans scheme set-up to provide businesses and organisations with funding to kickstart development projects, which directly create economic growth and jobs; particularly in the LEP area’s key sectors such as construction. To date GPF has approved 13 loans worth a total of £16.6m.

Growing Places:Round 4 was opened to applications earlier this month (June). Individual loans to companies or organisations are available, of between £250,000 and £2million, and must be to finance capital (building and infrastructure) to help further development.

Further information about D2N2’s Growing Places Fund and its past projects, and the terms around how to apply for funding now through Round 4, can be found at www.d2n2lep.org/GPF

Compendium Living has reported that 11 apartments in the new block have already been reserved, before the block is officially ‘open for business’ this weekend.

Michelle Barnsley, Field Sales Manager at Compendium Living, said: “This development is in a fantastic location and is perfect for commuters, young professionals and families alike. We have just put the finishing touches on the next phase and it looks simply stunning.

“Due to the high demand and popularity, virtually all of the homes at Castleward have now sold since going on sale in October 2013, and reservations are also in place on many properties currently under construction.”

More information about the Castleward development can be found on its website at www.castleward.co.uk and about Compendium Living at website www.compendiumliving.co.uk

Further information about D2N2’s Growing Places Fund and its projects can be found at www.d2n2lep.org/GPF

Media wanting further information about the work of the D2N2 LEP can contact D2N2 Communications Manager Sean Kirby on 0115 9578749 or email: sean.kirby@d2n2lep.org

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