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Wavensmere Homes is launching a £10m short-term rental facility at its Derby site

Wavensmere Homes has launched ‘Covo’, a £10 million short-term rental operation in the latest apartment complex to be completed in the £175 million Nightingale Quarter development in central Derby. Bookings for stays of two nights or longer are made via a special online portal.

Covo consists of all 52 apartments in the six-storey red-brick Hardwick House and is a service-oriented alternative to regular hotel offerings. The 42 one-bedroom apartments and 10 two-bedroom apartments are fully furnished and styled by an interior designer. Wavensmere Homes has appointed national short-term rental property management specialist My Property Host to operate the new facility, which will be staffed by a property manager and housekeeper seven days a week.

James Dickens, director of Wavensmere Homes, said: “Having built the 925 homes in Nightingale Quarter over the past five years, we are aware of the number of hotels in Derby city center that have closed, redeveloped or redeveloped. Meanwhile, with the expansion of major employers such as Rolls Royce and Toyota, demand for housing here has never been greater. In collaboration with My Property Host, we conducted data analysis, which confirmed the strong demand for a quality alternative to a hotel, especially for business bookings.”

“Our significant investment in Covo to create this 52-apartment short-term rental operation is positioned to disrupt the market in Derby and boost the city’s tourism sector. For every night spent away from home, people spend an average of another £47 on food, drink, shopping and entertainment. We look forward to welcoming the first guests and building relationships with major employers and booking agencies for corporate stays.”

Stays at Covo are subject to a demand-driven, dynamic pricing structure, starting from £75 per night for one-bedroom apartments and £90 per night for two-bedroom properties. Guests have access to the residents’ gymnasium and co-working facility, and can also make the most of the communal garden and athletics track surrounding the 18.5 hectare development. An extensive breakfast menu is served in The Pepperpot restaurant, located in the building next to Covo.

Raj Patel, CEO and co-founder of My Property Host, said: “Covo is Italian for pine, which sets the tone for this important new offering. The 52 new apartments have been beautifully decorated by a leading interior designer and provide a home from home for those in Derby for work or pleasure.”

“The My Property Host team manages 3,500 rooms across 44 locations across the UK, with the launch of Covo – and this partnership with Wavensmere Homes – marking a significant milestone for our business. We couldn’t be more excited to market and manage this new operation, which benefits from an excellent DE1 address, a few minutes’ walk from Derby Train Station and Derbion Shopping Centre, with The Pepperpot – the best restaurant of the city – on your doorstep. With a gymnasium and co-working facility on site, Covo can be on par with major four-star hotels, which is exactly what this city is crying out for.”

My Property Host has appointed experienced hospitality and property manager, Ross Gregory, as manager of Covo. The building is staffed seven days a week between 1:00 PM and 8:00 PM to receive and assist guests. Fresh groceries and provisions can be selected from a drop-down menu prior to arrival, allowing the apartments’ fully equipped kitchens to be used for meal preparation.

James Dickens added: “95% of the 925 houses and apartments in Nightingale Quarter have now been matched with buyers and the final phases are currently under construction. The addition of Covo will be a benefit to the residents who live here as friends and family can now stay on site.”

Wavensmere Homes’ flagship development has seen the restoration and redevelopment of the Derbyshire Royal Infirmary, including its two iconic pepperpot buildings. Florence Nightingale lived in the city for three years and was instrumental in the design of the hospital, which received the Royal Stamp of Approval when it was opened by Queen Victoria in 1894. A Grade II listed statue of Queen Victoria has been preserved and restored by the multi-award winning housebuilder to ensure her legacy remains strong.

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