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Event Marks Completion of New Apartments in Derby City Centre

Event Marks Completion of New Apartments in Derby City Centre

A special event last night marked the opening of a multi-million pound project in Derby that has seen the conversion of an office block into 158 apartments.

The Mayor of Derby, Linda Winter, cut the ribbon and made a speech to officially open Prosperity House on Gower Street in front of more than 100 guests.

The event marks completion of 92 apartments and phase one of the development at Prosperity House, formerly St Peters House, which will have a gross development value of £18 million once complete.

Nottingham award-winning builder DL Rhodes & Son is responsible for the conversion of the eight-storey office block into a complex of one-bedroom and two-bedroom apartments – expected to rent for around £650 to £675 per month - with the ground floor incorporating state-of-the-art offices. It is hoped that the low rent will attract young professionals back to the city location.

Arran Bailey, company director of ALB Commercial Investments Ltd, said: “It has been a fantastic project to work on and I am over the moon with what DL Rhodes & Son have done and the outcome of their work is something to be proud off.

“We would like to thank DL Rhodes and the team for the great work they have put in. We are delighted to be part of the Derby city centre regeneration project.”

Managing director of DL Rhodes & Son, Nigel Rhodes, said: “This has been a fantastic project to work on with ALB once again. After these apartments are handed over we will be moving straight onto phase two with a completion date of August 2017.”

ALB has also awarded a 141-apartment project in Dudley to DL Rhodes on the back of the Prosperity House project.

Once complete, there will be a total of 158 apartments at the former office block. Prosperity House is the latest development in ALB Commercial Investments' growing portfolio, which also includes the former Co-op building in Ilkeston, recently given planning permission for 69 apartments.

More information can be found at albinvestments.co.uk


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