Derbyshire Royal Infirmary resi gets £43m boost

Urban Exposure has provided a £42.9m loan for a residential scheme on the site of the former Derbyshire Royal Infirmary, in Derby City Centre. The loan to jv partners BBS Capital and Wavensmere Homes will support the development of 474 homes at the Nightingale Quarter scheme. BBS and Wavensmere are working with Cedar Group to deliver 349 flats and 125 townhouses at the city centre scheme. Construction kicked off in December and the primary tranche of sales will launch next month, with the first homes expected to complete in September. Randeesh Sandhu, chief executive at Urban Exposure, said: “The site has been disused for several years, which makes it all the more pleasing to provide Derby’s residents with an opportunity to live in a thriving new community in an exceptional location.” Urban Exposure has provided £150m in development finance in the Midlands in the past 18 months, with £90m for two resi schemes from SevenCapital and a further £67m backing Galliard’s Timber Yard in Birmingham. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette