More than a third of the initial 94 apartments on a £50 million inner city housing development have been sold.
Elevate Property Group’s Derby Silk Yard scheme is being marketed as “affordable city centre living for young professionals, couples, and downsizers”.
The Birmingham-based independent developer, which is working with sales agents Bagshaws Residential, said there had been strong interest in the new homes going up on the corner of John Street and Castleward Boulevard.
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David Hofton, sales & marketing director at Elevate Property Group, said: “The Silk Yard is one of Derby’s most iconic urban regeneration projects and fits perfectly with our ethos of bringing city centres back to life with a historical nod to the past.
“The steel framework for the first block is clearly visible and marks an important visual milestone in the development.”
He added: “We are defying the national property picture with The Silk Yard, reporting significant early sales – 35 per cent sold off plan for the first phase is some achievement and clearly underlines the attractiveness of the Silk Yard and the growing interest in living in this great city.”
The Silk Yard has been designed by architects Corstorphine & Wright, and is the first time Elevate Property Group has developed in Derby. Elevate has built a reputation for bringing historic city centre sites back to life through high quality residential developments.
Leicestershire’s Bode Contracting is the main contractor on the two-year project across three main apartment blocks and a gated courtyard.
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Kerri Bywater, new homes partner at Bagshaws Residential, is working on the development with colleague Louise Hutchinson.
She said: “In the last month, we have seen a swathe of investment in the area, including Rolls-Royce’s 1,200 jobs boost at Raynesway, a £45.8 million performance venue in the heart of the city and University of Derby’s new business school that will house 6,000 students by 2030.
“All of this means, the scheme is being very well received by local buyers, as well as investors from out of town. The message is simple, if you want to be part of The Silk Yard, don’t wait…act now.”
Apartments range in price from £140,000 to £260,000.