New development company set up by Bolsover District Council to help save housing projects

Dragonfly Development has been tasked with creating economic growth and community regeneration through direct commercial action and to generate an income for Bolsover Council.

Coun Steve Fritchley, council leader, said: “I have always said that to be in control of a situation you have to own it. And with establishing this new company, our destiny is in our own hands now.

“With government grants reducing all the time, we have to make bold decisions about how we will fund our services, where our income will come from and how we will continue to regenerate and develop the district for the benefit of our communities.

"If we are to survive, then we have to become more business-minded and self-sufficient and this is the first step in achieving that.”

Woodhead shut in September, affecting about 120 jobs.

The council has already identified development projects for the next five years including the current construction projects of 80 council properties in Whaley Thorns, Whitwell and Shirebrook and the new £3 million Creswell Heritage and Wellbeing Centre.

Karen Hanson, council chief executive, said: “We had to act quickly. When Woodhead Construction went into administration, it left us with a black hole in terms of our current development projects.

"But we took quick decisive action to ensure all of our current developments would continue and the establishment of this company is the next phase in ensuring we deliver what we said we would.”

Grant Galloway, new chief executive of Dragonfly Development, said: “This is fantastic news, we have an exciting future ahead of us. We know we have the expertise and know-how to become one of the leading developers in the region that builds high quality, design-led homes and business accommodation.

“We have our bread and butter developments of housing and commercial properties. But we will also be looking at commercial and retail investment opportunities.

“This will not only provide us with a healthy yield, but enable us to buy a stake in town and village centres and influence how they look and feel as well as boosting the local economy.”