John Forkin, Managing Director at Marketing Derby heralded the award of Godwin’s Agard Street Planning Application by saying:
“We are delighted with the approval as we have worked closely with Godwin Developments on this and other sites. Marketing Derby together with the Economic Development Advisory Committee (EDAC) have provided our full support for the planning, which will significantly improve the area.”
No doubt that Forkin, Derby City Council and others that supported the scheme to “improve the area” would have expected that Godwins would have delivered this construction containing 142 student flats
In actual fact, Godwins are now selling up and realising a handsome profit of £1.8m on the land they bought 5 years ago, for £350k.
The difficult task of converting an uninspiring car park into a site which
“will bring a spark of innovation to regeneration in the city centre and offer highly anticipated accommodation for students across Derby”
rests with an, as yet, unidentified buyer of this land. The buyer will have to deliver on the onerous obligations agreed by Godwins in order to convince the Planning Committee to approve the application.
There is nothing inherently wrong with someone buying land , gaining planning permission and selling it on at a profit. However Godwins have repeatedly suggested that their intention is to deliver accommodation – that is the clear expectation.
Stephen Pratt, Godwin Developments, commented to Marketing Derby.
“ We see Derby as a great opportunity for city living and now have two live deals with more in the pipeline. We are keen to create some quality apartments for the city and satisfy the demand of the many young professionals who work here.
Godwins are also behind the controversial Landmark development in the City.
Mark Richardson of BB&J Commercial said
“It is refreshing to see a quality developer take hold of key regeneration sites with ambitious plans that the city deserves. As a city we missed the apartment boom last time around and as a result there is a real underlying demand for quality city living.
“I feel Godwin Developments are the right developer with the expertise and clout to deliver this exciting scheme which will firmly put Derby City on the residential map with this stunning new development.”
“Deliver” means “build”, not just “obtain planning permission and move on”.
I contacted Godwins to ask if they planned to have any involvement in Agard Street once the car park had been sold – I’m still awaiting a response.
Time will tell whether they plan to “build” the Landmark building or offer that car park on Phoenix Street up for sale as well…. for another tidy profit!
Categories: Derby City Council