Local company chosen as Derwent Forest developer

7th April 2011

Derwent Forest Development Consortium (DFDC) has been chosen as the preferred developer to shape the future of the former RNAD site.

Commenting on the announcement Nigel Catterson, Chairman of DFDC said 'We are absolutely thrilled that we have been chosen as the developer for this important site. DFDC are committed to the sustainable development of Derwent Forest and we very much look forward to working with the local community to bring this exciting project to fruition. Our scheme will significantly improve the aesthetics of the area, protecting and enhancing the sites industrial heritage as well as bringing financial benefits and providing a wonderful community resource.'

'Our vision for Derwent Forest is to create a sustainable environment. As well as proposals for self build properties, inspirational homes, visitor centre and holiday/camping provision we are looking to enhance the area by working in harmony with, and having respect for, the existing natural environment.'

DFDC will take ownership of the site and administer the delivery of the project by contracting with Cumbrian based businesses, where possible, to deliver the individual phases of the project. Story Group is to deliver phases 1 and 2 which will see a master plan developed, start of site clean-up, and visitor attraction. The work will be funded by the sale of 150 serviced residential building plots around the perimeter of the site which will be sold on the open market. This provides a unique opportunity for local people and businesses to build dream homes in this beautiful environment, creating and securing jobs for Cumbria.

Fred Story, Chief Executive of Story Group said 'I am delighted that DFDC has been chosen to take their scheme forward. The principles of sustainability form the foundations of this exciting scheme, which will ultimately protect the past and minimize impact for the future. As a proud Cumbrian and businessman I am excited by the possibilities it brings for the economy of the area. The new build sites provide significant potential for local people to build, and employ other local businesses to help in that process. It's a fantastic opportunity which I'm sure residents of Cumbria will embrace.'

It is still early days as planning permission and site investigations still need to be completed before work can start on the site but all being well possession of the site will take place in the summer. DFDC expect to deliver the project over 15 years.

Notes for Editors:

1. The Derwent Forest Development Consortium is controlled and run by three Directors - Nigel Catterson, Fiona Hammond and Fred Story of Story Group, and one non Executive Director, Bill Dodd.
2. A Community Interest Company 'utropia' will be created which will receive 60% of DFDC profits and will have board representation on DFDC. Utropia will be owned and run by members of the local community, to benefit the local community and will have Nigel Catterson as Chairman.
3. DFDC will ensure that coal extraction and wind farms will never be developed on the site.