Grainger plc will launch its first build to rent development in Derby next spring – and has now revealed the development will be named ‘The Condor’. The city’s first purpose-built rental development, which is based on the former Debenhams site on Victoria Street, has been named in recognition of the city’s engineering excellence, celebrating the aircraft engine built by Rolls-Royce in Derby in 1918. Famously recognised for its powerful engine system, Rolls-Royce Condor III, was one of the first engines built by Rolls-Royce. With up to 675 horsepower, the engine was experimentally flown to explore the operations of a diesel engine in flight – an innovative development in aviation history. Much like the famed engine, The Condor will be first of its kind in the city of Derby – a purpose built private rental community. With construction work well underway, The Condor, which is due for completion in spring 2023, will offer 259 one and two-bedroom apartments. The development will feature 2,962 sq ft of internal ground floor amenity space for residents, including a shared resident’s lounge and co-working space, as well as 2,185 sq ft of external rooftop space with a terrace overlooking the new public square. In addition to a gym, secure car parking, bike store, and electric car charging points, residents will also benefit from complimentary superfast WiFi and the services of a dedicated onsite Resident Services Team. Leesa Ingham, head of marketing at Grainger, said: “When naming a Grainger development, we take great care and effort to research the local area and understand the heritage of the site. “We identified several themes for our first development in Derby, but loved the idea of ‘The Condor’, given its historic links to the city. We were delighted when Rolls-Royce kindly agreed to letting us use The Condor for the name. “We look forward to drawing further inspiration from the engine in our designs as we head towards completion and launch of The Condor in 2023.” A spokesperson for Rolls-Royce said: “The famous Condor engine was state-of-the-art technology in its day, and we’re delighted that it is still a source of inspiration today.” Paul Morris, development director at St James Securities, added: “We have always been committed to maintaining the heritage of the Becketwell area of Derby and are delighted that Grainger are recognising the city’s engineering excellence by naming the build to rent development after the iconic aero engine, which was built in Derby.”

LondonMetric has acquired an urban logistics property in Leicester as part of a duo of deals worth £28.8 million. The REIT has snapped up a 125,000 sq ft urban logistics forward fund development at Crosslink 646 in Leicester which consists of two units and is expected to complete at the start of 2023. The largest unit totalling 90,000 sq ft is pre-let to EM Pharma Ltd on a new 15 year lease. The smaller 35,000 sq ft unit will be developed speculatively. The property is expected to be certified BREEAM Very Good with the benefit of a solar PV installation. LondonMetric has also acquired a 9 acre site in Droitwich which is used for vehicle storage and let to Amazon. Andrew Jones, Chief Executive of LondonMetric, said: “We are continuing to allocate capital into the strongest geographies within the distribution sector, where we can benefit from attractive entry yields and structurally supported occupier demand to capture superior rental growth.”

A unique stables complex in the Vale of Belvoir has been sold by specialist land development and property consultancy Mather Jamie to Sheppard Developments in partnership with Gatter Capital. Situated within the grounds of Wartnaby Castle, known as the ‘Little Belvoir Estate’, the site holds an elevated position above the Vale of Belvoir. Benefitting from full planning permission for the conversion of the existing stable yard and redevelopment of existing cottages, it is anticipated that four luxury residences will be constructed to include ample garaging and home working space. Also included within the sale is a parcel of paddock land which adjoins the stables that has potential for equestrian or amenity use. Commenting on the sale, Mather Jamie senior associate director, Gary Kirk, said: “We were delighted to be instructed on such a unique site. The nature of the range of buildings and their setting presented some interesting technical challenges from a marketing perspective. We look forward to watching this site come forward and deliver new homes, which will be in high demand.” Ben Sheppard from Sheppard Developments added: “We are very excited by this latest acquisition with its unique setting and architecture. It is fantastic to be working alongside Gatter Capital on our second project together creating high end, luxury and distinctive residential properties.” Originally constructed to compliment Wartnaby Castle, the 2 acre site comprises a range of traditional buildings including the stable yard and two adjoining cottages. The Little Belvoir Estate was constructed in 1839 and was likely built as a hunting facility with the stables being an integral part of the wider Estate’s original purpose.

The team behind the redevelopment of high-profile regeneration projects including Gunwharf Quays in Portsmouth and London’s Battersea Power Station has become commercial partner for the biggest development opportunity in the Midlands. Areli Developments, founded by Rob Tincknell, will develop the commercial strategy for three massive sites being promoted by the East Midlands Development Company, a public-private partnership backed by a consortium of local authorities and government. Areli has brought together a professional team to support a long-term programme which centres on the development of hundreds of hectares of land around East Midlands Airport, Ratcliffe-on-Soar Power Station and the Toton-Chetwynd corridor. Each site is the size of London’s Olympic Park, and it’s hoped that they will collectively generate 84,000 jobs and add more than £4 billion to the output of the East Midlands economy in the decades ahead. Some of the sites sit within the boundary of the proposed East Midlands Freeport, while government has also confirmed that HS2 trains will also come into the area. Areli has a global track record for the delivery of transformational projects, and its professional team in the East Midlands will also include architects Benoy, regeneration consultant Urban Delivery and placemaking experts MurrayTwohig. Announcing the appointment, Richard Carr, Managing Director of EM DevCo, said: “Our three sites represent one of the biggest and most ambitious development opportunities in the UK’s regions, and we expect them to have an impact at macro-economic level. “Our ambitions run deep into the quality and nature of the development we’re looking to enable, and bringing on board a partner of Areli’s calibre is a mark of how high we’re aiming.” Tincknell, whose current development portfolio includes over 8m sq ft of mixed use regeneration projects, said: “Areli Developments is thrilled to be appointed as strategic commercial partner to the EM DevCo. “Our team includes some of the leading real estate strategy specialists in the UK, all of whom are extremely excited to work with the DevCo to help create a robust and compelling vision for the future of three extraordinary projects. “One of the key workstreams we’ll be commencing over the next 12 months will be to actively engage with local communities and stakeholders to hear their views and build them into the DevCo’s ambitious plans.” The DevCo has already been appointed a Design Code pilot by government, with a remit to work with partners to ensure the development of beautiful places. Its sites will include the development of a new innovation campus, major residential development, large-scale demonstrators aimed at taking net zero technologies to market-ready status, and supporting infrastructure. EM DevCo is also working in partnership with the East Midlands Freeport, which seeks to build on the area’s status as a major trade gateway. East Midlands Airport is the biggest pure airfreight airport in the UK and it sits alongside the SEGRO road-rail logistics site.