Profits from the company will return to Derbyshire County Council to help run front line services, and the company has hit the ground running with plans to develop two sites in Derbyshire. One, on the site of a former primary school in Danesmoor, Clay Cross, is at the planning stage. Plans have been submitted to build 28 houses and work is expected to start later this year.

The second site is in Duffield and has been used for many years as a council highways depot. Architects are currently preparing a planning application for housing.

Councillor Andy Botham, Cabinet Member for Council Services at Derbyshire County Council,  said:-

“With declining Government grants and increasing demand for many of our services we need to find new ways to bring in money. Setting up Derbyshire Developments is a bold and innovative way to do just that. By developing land we no longer need ourselves we will keep the profits we make in Derbyshire.

“I’m delighted that the company is now up and running and look forward to seeing work progressing in Danesmoor soon.”

There are a further 10 sites across Derbyshire identified for development, and another 300 sites the council have decided they no longer need. Derbyshire Developments will consider potential uses for all of these sites as part of a strategic development programme.

Leading figures from the property world have been appointed to lead and run the company. Jon McLeod has been appointed non-executive director and chair of the board for the company. Jon has a strong track record in regulatory, financial and legal affairs. He has a very wide range of client experience, with a specialism in real estate, property and regeneration.

And Aidan Kelly has been appointed managing director. Aidan brings extensive experience in both the private and affordable housing sectors, having worked across the country to deliver a range of housing developments.

Jon and Aidan join Councillor Botham, and Chief Executive Ian Stephenson, on the board as strategic directors.

Jon McLeod, Derbyshire Developments Chairman, said:

“Derbyshire Developments is an innovative public interest company designed to generate returns for the people of Derbyshire, both in terms of the new housing and infrastructure it creates, and in terms of the income it generates for the benefit of council tax payers. I look forward to leading this exciting new project.”

Aidan Kelly said:

“This is an exciting venture with the opportunity to both develop much needed homes and ‘Profit with a Purpose’, that is to help the county council to invest in critical local services.”