GMI awarded contract to build new £30m build to rent residential scheme within new Becketwell development in Derby
GMI Construction, a leading main contractor to a growing portfolio of public and private clients throughout the UK, has today announced that it has been awarded a contract worth £30M by St James Securities to construct a 259-unit build to rent (BTR) apartment block within the major Becketwell mixed-use regeneration project in Derby city centre.
The development, which will feature a mix of one- and two-bedroom units over 11 storeys, has been sold to Grainger plc, the UK’s largest listed residential landlord. Construction began during May, with the building expected to be completed by March 2023.
In addition to working on the construction of the apartment block, GMI will also undertake works on the new public square that will serve as the focal point for the regeneration of Becketwell.
Commenting on the project, GMI Group Managing Director Andy Bruce said: “We are thrilled that the St James Securities team has once again put its trust in GMI to deliver this high-profile apartment block within the Becketwell development.
We have worked together several times before at sites across the UK and GMI’s relationship with SJS serves as a long-term partnership stretching back several years.
We are looking forward to working with the full project team and seeing this development come out of the ground and at the heart of the regeneration of Becketwell.
Also talking about the project, Oliver Quarmby, Managing Director of St James Securities said: “We are delighted to be continuing our long-standing relationship with GMI Construction on what is a hugely significant regeneration project for the City of Derby.
“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.”