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Developer Wavensmere has landed a £15m funding deal with Quantum Development Finance to kick off the £22m redevelopment of Milford Mills in Derbyshire.
The development will include 69 new homes to be delivered on the historic brownfield site, which is within the Derwent Valley Mills UNESCO World Heritage Site.
Wavensmere’s team will now work alongside officers from the Borough Council so that it can start the build in January.
This marks the second time Quantum Development Finance and Wavensmere Homes have teamed up to deliver brownfield regeneration within Derbyshire. Earlier this year, the London-based specialist property lender provided a £15m loan for the construction of the final phase of the £175m Nightingale Quarter scheme in Derby city centre.
Sam Hudson, head of portfolio management at Quantum Development
link source - The Business Desk