A £30m contract has been awarded by St James Securities to GMI Construction to construct a 259 unit build to rent (BTR) apartment block within the Becketwell mixed-use regeneration project in Derby city centre.
Construction began in May, with the building expected to be completed by March 2023.
The 11 storey block has been forward sold to Grainger, the UK’s largest listed residential landlord.
GMI will also undertake works for a new public square that will serve as the focal point for the Becketwell regeneration, in addition to building the apartment block.
GMI has worked for St James Securities on previous jobs, with GMI managing director Andy Bruce describing it as a ‘long term’ partnership stretching back several years.
Managing director of St James Securities, Oliver Quarmby, said: “GMI has a track record of working on award winning projects for an extensive portfolio of developers, public sector clients and blue-chip companies across a broad range of sectors and we are delighted to have them on board”.
“Construction is progressing well, and we anticipate handing the keys over to Grainger at the start of 2023.