Network Rail announced St Modwen has been selected as partner for a joint-venture to develop the 70-acre brownfield site, known as the Chaddesden Triangle, Derby.

Owned by Network Rail and located next to Pride Park, the freehold site is the largest brownfield site in Derby. It has been identified by the City Council as a strategic development site and regeneration priority. It is predicted that developing the Chaddesden Triangle will create hundreds of jobs for the city.

Stuart Kirkwood, head of development for Network Rail said: ‘Network Rail is committed to realising the potential of its estate in order to invest in the railway. This development will create jobs in Derby and drive regeneration. Competition was strong, but St Modwen presented the best overall combination of attributes and as a result has been selected as development partner to form the joint venture. We very much look forward to working with St Modwen to deliver the redevelopment of the Chaddesden Triangle.’

Bill Oliver, Chief Executive of St. Modwen said: “We are extremely pleased to have been chosen by Network Rail as their partner on this prestigious and strategically important development opportunity and look forward to progressing the regeneration of the site.”

There was strong interest in the development opportunity, with the initial round of bidding producing 15 expressions of interest. A shortlist of seven was then compiled, of which St Mowden was selected as the preferred bidder.

Detailed discussions will now commence on the structure of the joint venture and master plan proposals will be submitted towards the end of 2012.