Confidence building again
Published: 2010-01-14 13:32:21
Bolsterstone is starting work on its £12 million Central Square scheme in Cathedral Road. (Sourced from Evening Telegraph.)
The scheme originally won planning permission in January 2008. The land has remained empty since then because of lack of interest from companies expected to move in before the economic downturn.
Bolsterstone instead used the site as a temporary public car park to generate income and recently applied to Derby City Council to continue operating parking for another 12 months. A decision on this application was due to be made by the planning control committee tonight. But Bolsterstone has withdrawn the request because it is about to start work on the site.
Managing director Peter Swallow said: "We are going to start work on site and begin remediation work."
John Cadwallader, chief executive of Derby Cityscape, said the aim is to start construction in March or April.
"There are now some strong inquiries about and prospects of securing tenants. On that basis, I think the company is looking to speculate. This will maintain the momentum of the regeneration of the city centre."
A second office development in Cathedral Road is still lying dormant and bosses there have followed Bolsterstone's lead by applying to the city council for permission to use the land as a car park. Cedar House Investments already has planning permission to create the £15 million office block, called City Gate House, on the site. Its application to use the land as a car park, while it continues looking for a company to fill the office space, is recommended for refusal. A decision will be made tonight.
