30% Increase in Greater London Buyers for Wavensmere Homes’ Nightingale Quarter in Derby
During 2023, Wavensmere Homes is handing over the keys to 413 newly completed homes at its £175m Nightingale Quarter Scheme in Derby city centre. All 125 houses at the redevelopment of the former Derbyshire Royal Infirmary are now occupied, with the final phases of the 800 apartments and commercial space underway.
Since Nightingale Quarter was launched to the market in late 2019, 46% of buyers have come from Greater London and Essex, reflecting a 30% increase during this year. The rise in London outmigration is attributed to the cost of mortgages and renting, together with Derby’s commutability, as trains to London St Pancras take only 87 minutes. High EPC-rated one- and two-bedroom apartments at the expansive development – which is only five minutes’ walk to Derby train station – are priced from £185,000.
The 18.5-acre site is one of the UK’s most significant city centre regeneration projects and includes the restoration of landmark buildings and monuments from the 130-year-old former hospital. Five phases of the project are currently under construction concurrently by Wavensmere Homes.
James Dickens, Managing Director of Wavensmere Homes, said: “London outmigration is nothing new, but aspirational moves into the Home Counties are being overtaken by strategic relocations out of the overheated Southeast. The 14 consecutive interest rate rises and cost of living pressures mean more and more people simply can’t afford to live in the capital.
“First time buyers need to be earning very high salaries to get on the property ladder anywhere within the South East. But, in contrast to the UK average house price of £367,760, the average home in Derby costs £233,439. However, the region’s booming advanced manufacturing sector means it offers the highest salaries outside of London and Southeast, yet you can buy one of our premium apartments for £185,000.
“Derby is increasingly seen as a safe bet for career progression by ambitious young professionals because there is so much opportunity with international brands such as Rolls-Royce, Alstom, Toyota, Vaillant and Getinge. We want to get the message out to the property commentators that the new homes market is still very active, but there are shifts in buyer profile patterns.”
Nightingale Quarter boasts a DE1 postcode and is located off London Road, which is an arterial route into the city centre. Derbion shopping centre is a one-minute walk.
Derby Royal Infirmary closed in 2009 and the site was redundant until Wavensmere Homes received planning consent from Derby City Council and commenced work in late 2019. The vast development has been sympathetically designed by Gould Singleton Architects to incorporate the restoration of the iconic Victorian ‘Pepper Pot’ buildings. Pepper Pot North will feature a large independently run restaurant, while Pepper Pot South will be transformed into a residents’ gym and community meeting room. The gym will be available to all those living in the apartments and houses, with the low running cost split across the service charge for the 925 homes.
Florence Nightingale lived in the city for three years and was instrumental in designing the hospital, which received the Royal Stamp of Approval when it was opened by Queen Victoria in 1894. An original statue of Queen Victoria is being preserved and restored by Wavensmere Homes to ensure her legacy stands strong.
Virtual reality headsets, interactive touchscreens, and 360-degree walkthroughs fully illustrate the detail of Nightingale Quarter’s latter apartment building phases, where many more residents will move to before the end of this year and during 2024.
Wavensmere Homes has recently submitted plans for the 11.5-acre (4.96Ha) historic Friar Gate Goods Yard elsewhere in central Derby, which could be transformed into 276 houses and apartments, and over 110,000sq ft of commercial space. The firm has also struck a deal with Wilson Bowden Developments for one of the final plots of development land within Derby’s newly revitalised Cathedral Quarter. Wavensmere Homes’ additional major urban regeneration schemes are located across central England. The Birmingham-headquartered housebuilder has around 3,500 new homes either under construction or in planning.
Nightingale Quarter’s marketing suite and two show homes are open from 10am – 5pm Monday through to Saturday, accessed off 128 London Road, Derby DE1 2QQ. For further information, or to book an in-person, or virtual appointment, call 01332 321 255, or email [email protected]