£75m project to restore derelict historic Friar Gate Goods Yard site begins later this week

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Work will start later this week on the £75 million redevelopment of Derby's historic Friar Gate Goods Yard, bringing two landmark Grade II-listed buildings back into use together with 276 new homes on the site. Wavensmere Homes, which is carrying out the long-awaited project, has been boosted by a £24 million loan from Octopus Real Estate.

The new funding agreement marks the second time Octopus Real Estate (part of Octopus Investments) and Wavensmere Homes have teamed up to deliver brownfield regeneration in Derby. The lender provided a £22 million loan to facilitate the redevelopment of the former Derbyshire Royal Infirmary – off London Road – into the £175 million Nightingale Quarter, which is now in the final phase of construction.

The Friar Gate development will restore the site's 19th-century bonded warehouse and engine house. The two terracotta

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