Housing specialist Lovell and build-to-rent developer-operator Placefirst have signed a £22M build-to-rent deal in Derby.
At the Castleward development there will be 33 single-family houses as well as 79 apartments, with the first handovers being in Q1 in 2026.
This is the fourth phase of work at Castleward, which sits alongside existing multi-tenure developments in the area.
Beth Bundonis, regional managing director at Lovell in the East Midlands, said: “Our vital work to create purposeful communities and bring forward effective housing in the East Midlands continues, with phase four – and the forthcoming phase five – adding to the vital regeneration of Derby and creating a lasting legacy built around top-quality housing.
“This deal allows us to broaden the scope of what’s being delivered in Castleward and is a first for Lovell in the East Midlands, helping to solidify us as an enabler of housing choice for the fantastic partners we work with.
“Through those such as Placefirst and Compendium Living – the latter of which has sold homes under the previous three phases – we’re able to make sure that whether they are looking to rent or buy, people can find a new home at Castleward.”
Located between Derbion shopping centre and Derby Midlands Station, the £100m Castleward scheme is the most significant housing project in the city.
It is set to deliver around 800 new homes along with green space and 35,000 square feet of commercial retail space by its total completion.