DERBY, U.K. - eTradeWire -- Construction work is officially complete on phase one of Derby's Becketwell regeneration scheme, with the eagerly anticipated opening of Springwell Square, the new public square for the city.

Located adjacent to The Condor, Derby's first Build to Rent (BTR) apartments on the site of the former Debenhams store on Victoria Street and close to the new £48.5m events and conference venue, the new public square is set to become the vibrant heart of the £200 million Becketwell scheme.

Springwell Square will be a vibrant hub for culture, leisure, and social interaction and a place for residents to pause and relax and will integrate seamlessly into the urban landscape.

The Becketwell regeneration scheme is the most significant urban regeneration scheme in the city for more than three decades and will create a vibrant, exciting, new quarter of residential, commercial leisure activity in the heart of Derby city centre.

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It is also hoped that the substantial levels of investment made at Becketwell will provide confidence for further new investment in surrounding areas of the city centre.

The scheme is being developed by St James Securities, a privately-owned Leeds-based property developer, with a track record of delivering successful major regeneration schemes.

With phase one now complete, construction work is now underway on phase two, a new 3,500-capacity events and conference venue.

Commenting on the launch of Springwell Square, Paul Morris, Director of developers St James Securities, said:

"We are delighted to welcome representatives from our partners Derby City Council, D2N2 and other key stakeholders to Springwell Square to mark the completion of phase one of the Becketwell scheme, a landmark regeneration scheme for the City of Derby.

"Over the past six years, we have been real trailblazers, prepared to take on a site that has been challenged for many years and creating a scheme which will revitalise and breathe new life into this area of the city.

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"Springwell Square will open up land to the south and bring it back into use. It will be a place where people can meet and relax in an informal space and will improve the vibrancy and attraction of the city centre."

Councillor Nadine Peatfield, Cabinet Member for City Centre, Regeneration, Culture and Tourism at Derby City Council added:

"Becketwell is a key development for our city centre and the new public square is at its very heart. Our aspiration is to make Derby a vibrant place where people want to live, work, and visit and we are now seeing that aspiration become a reality.

"We understand the importance of community spaces and Springwell Square will provide a great opportunity for residents to come together and enjoy the green, outdoor space that it provides."