Derby City Council’s planning control committee voted last week to approve the regeneration specialist’s outline plans for 4.6 hectare of B2 industrial and 10.9 hectare of B8 storage and distribution space on the site formerly known as Derby Triangle.
Earlier proposals to include additional B1 and A use classes in the scheme have been dropped.
The project, which will now be called St. Modwen Park Derby, aims to bring forward a total of 60,000 square metres of employment space.
The development site is located next to the Wyvern business and retail parks and is bounded on two sides by a railway line and the River Derwent with easy access to the motorway network via Derby’s inner ring road.
A report presented by officers to the committee said the scheme puts the finishing touch to the regeneration of the area around Derby County Football Club’s Pride Park stadium, which has been underway for more than 20 years.
The location, which is currently redundant after previously being used for aggregate site and then landfill, was capped and remediated nine years ago.
The report said the principle of employment on the site accords with policies in the Derby City Local Plan and will introduce further employment uses into an already established commercial and retail area.
It estimated that the project has the potential to create up to 1,300 jobs.
The report said: "Development will also regenerate a brownfield site that has been underutilised for many years and complete the development of the wider Pride Park area.’
It also said the scheme's environmental impacts are "minor or negligible".
A key sticking point with a previous application for the site was the level of the £2.7 million contribution that the council wanted for upgrading the Wyvern Way, which provides its main road access.
But St. Modwen, which submitted the application together with the site’s owner Network Rail, said the scheme could not "viably support" this level of contribution.
Following negotiations, Derby agreed to accept a section 106 contribution of £1 million towards the project.
The council report said a "robust" overage clause will ensure that additional profit generated as the scheme progresses will be shared by the council and the developer to help pay for the A52 works.
St. Modwen also agreed to earmark more than four hectares of the site for flood alleviation works and 1.3 hectares for the proposed restoration of the Derby to Sandiacre canal.
Site works will commence this year, the applicants said, with St. Modwen preparing to submit plans for its first phase shortly with the initial units expected to be ready for occupation in early 2021.
Stuart Kirkwood, development director at Network Rail Property, said: "St. Modwen Park Derby is perfectly situated for regeneration.
"What was once wasteland, will become home to a significant number of employment opportunities for local people and as landowners we are proudly supportive of this."