The UK’s innovation capital is planning regeneration on a massive scale
Derby is the UK’s most central city and is at the heart of the country’s transport network, with a ‘travel to work’ population of 2.1 million people.
The population of the city is currently around 248,700, a rise of about 7.8% in the last 10 years. As the UK capital for innovation, Derby has 38.5% of its workforce employed in professional functions which makes a great buy-to-let investment location.
There is a positive property market in Derby, with house prices currently being at around 13% below the national average. Prices here have increased around 20% in the past five years.
Global aerospace giant Rolls-Royce has been established in the city for over 100 years and is the largest single employer with 12,500 employees. The company is planning on extending its Derby factory and creating around 350 new jobs.
Derby County Council has announced a regeneration plan worth £3.4bn, set to fully modernise the city and promote economic growth.
Savvy investors know the beneficial impact of major regeneration projects on house prices. If that wasn't enough, the University of Derby has around 29,000 enrolled students, all helping to drive price growth even further.
That means Derby property investment is perfect for you if you're looking for a central city at the heart of the country’s transport network.
Economy & Employment
rains, planes and automobiles provide the major employment in Derby.
Derby’s skills pipeline is such that businesses have the benefit of working in partnership with local educators to gain the best recruits, with the best skills for their needs.
With the city having as many as 17 universities within an hour’s drive, this gives employers a talent pool of some 400,000 students.
Some 12% of Derby’s workforce is employed in hi-tech functions, four times the national average, and double that of fellow hi-tech locations such as Cambridge, Bristol & Reading.
Derby is home to a third of the East Midlands’ engineering manufacturing workforce, with over 45,000 people being employed in the sector.
Over 10% of the region’s hi-tech workers are directly engaged in research and development and technical consultancy positions.
Derby has one of the fastest growing economies in the UK, achieving 23% growth in Gross Value Added (GVA) in the five years to 2016.
June 2016 saw the lowest number of jobseekers' allowance claimants in Derby since records began in 1983. The figure decreased 8% compared to May.
Cyber security firm Webroot will create 50 jobs in the city by April 2017, referring to Derby as having a “significant impact on global commerce and technology.”
Call centre A1 Comms is set to create an initial 20 jobs, expected to rise to up to 100 jobs as the business grows.
Network Rail will create up to 88 jobs in Derby as part of plans to update the region's railways.
Investment
Regeneration masterplan worth £3.4bn
Derby City Council has announced it's creating a new performance venue in the heart of the city as part of its £3.4bn regeneration masterplan and ambition to drive growth. The council aims to create 4,000 jobs in the city and 1,900 new homes.
It will also transform the Silk Mill into an inspirational “Museum of Making” and renovate the Guildhall Market.
As part of the masterplan, a £20m hi-tech focused business park will be developed. It will include an Innovation Centre run by Derby, Ashford and Cranfield universities. The centre will help businesses strengthen their role in the supply chain of Derby's large aerospace, rail and automotive companies.
The Council's also hoping to redevelop the Becketwell regeneration site in the city centre. It's hoping the site will produce almost 100 new homes, 142 full-time jobs, over 1,300 sq. metres of commercial space, three hectares or redeveloped brown land and £29m in investment.
The work, currently worth an estimated £4m, could start as early as 2018 and is expected to complete by 2021.
The council has identified a strong need for larger office space in the area, which mainly caters to small and medium businesses.
In March 2016, work started on the redevelopment of The Spot in Derby's St Peter's Quarter, including an art structure and seating wall engraved with a bespoke timeline telling the story of the city's history. It's expected to complete in October 2016.
In 2015, Rolls-Royce, a key employer in the region, submitted plans for a major upgrade of its Derby facilities, which would include an aerospace campus. The transformation is considered a long-term project with an expected completion date of 2022.
Transport
Air: East Midlands Airport is situated around 15 miles from the city centre, with journey times of under 30 minutes by car. Birmingham Airport is just over 22 miles by road or one hour by train.
Rail: The region is served by East Midland Trains and CrossCountry, with services to the north-east and south-west, as well as express services to London. Derby is located close to several major cities, including Manchester (1h 36min), Sheffield (36min), Nottingham (20min) and Birmingham (34min).
Road: The M1 Motorway is located around ten miles to the east of Derby. Leeds and Sheffield link it northwards and southwards to London. Other major routes nearby are the A6, A38, A50, A52 and A61.
Bus: Arriva Midlands, Trent Barton and National Express run bus services in and around Derby, as well as providing a wide range of routes to destinations throughout the country.
Park-and-ride services operate from the north of the region at Meteor Centre retail park in Mansfield Road, and Pride Park’s south car park, adjacent to the football stadium in the south-east.
Cycle: Whilst there are few dedicated cycle lanes in Derby, cyclists benefit from the 20mph speed limit imposed on all city centre roads.
Education
Derby has 30 primary schools, 15 secondary schools, one further education college, six special schools and three independent schools in its catchment area.
The area has excellent independent schools. Currently, there are three schools in the region that feature in the top 250.
Notable institutions: Derby High School, a day school which caters for boys and girls up to 11 years old, and girls from ages 11 to 18. The school is currently ranked 78th in the country based on A level results.
Further Education: Around 1,500 students attend the renowned Derby College, a further education college located in Roundhouse Road, with additional campuses in Ilkeston, Heanor and Morley.
The college attracts students from across the region, due to its excellent location and transport links.
Higher Education: Around 29,000 students attend the University of Derby, which has its main campus in the city. Additional campuses are located in Buxton and Chesterfield.
Nearly 300 study programmes are provided at the undergraduate level. Undergraduate programmes, as well as short courses, foundation degrees and postgraduate degrees, cover most academic disciplines.
Shops & Leisure
Shopping & Dining: There are three main shopping areas, St. Peter’s Quarter, Cathedral Quarter and Intu Derby, the main indoor shopping centre. Intu contributed £166m to the local economy in 2015 and supported almost 4,900 jobs.
It had a £340m revamp in 2007 and houses a food court and 12 screen cinema. On the city’s outskirts are two further retail parks hosting all the familiar big name outlets?
Sport, Leisure & Culture: Derby has its own football, rugby, cricket and basketball teams as well as two rowing clubs nearby on the river Derwent.
Music lovers are catered for with open-air concerts in Darley Park, together with the Assembly Rooms which hosts various orchestral and choral events throughout the year. There are also theatres, museums, galleries and a street festival held annually every September.
The Council plans to build a new swimming pool at Moorways, set to open in 2018. Proposals include a toddler play area, slides, a gym, a sauna and a steam room.
Visitors to Derby will benefit from the Premier Inn hotel opening its doors on 8 August.
Green Spaces: Derby’s residents are spoiled for choice when it comes to green spaces, with six parks as well as the stunning Derby Arboretum to the south of the city centre, which was the first public park in the country.
The Peak District National Park is around 40 minutes by car and offers plenty of sights of activities, such as country manors, galleries and museums, zip lining and The Chestnut Centre, a conservation park with an emphasis on otters and owls.
