More than 600 new homes and 50 new jobs are on course to be created, one year since the Derby City Centre Masterplan was launched.
The ambition of Derby City Council and its private sector partners who created the masterplan is to create 4,000 new homes, 1,900 new jobs and leverage £3.5bn in new investment by 2030.
Deputy leader of Derby City Council, Cllr Martin Rawson, said that work is on course to ensure those ambitions are realised.
“In order to achieve these ambitions we have sat with and listened to the private sector in order to put in place a set of meaningful programmes that can assist businesses, both small and large, in achieving their objectives,” said Cllr Rawson who has responsibility for regeneration and the economy.
‘Best deal possible’
“One strategy is the release of surplus assets for development. At the 2016 Derby Property Summit it was announced that Middleton House, which formerly housed the Council’s education and social services departments, would be put on the market. I am pleased to say that we are now in the final stages of negotiating the sale to a major East Midlands developer which has considerable expertise in residential development in conservation areas,” he added.
The Grade II listed 1912 property, on St Mary’s Gate, is to be transformed into a mixed used development including high-end residential units, subject to planning permission.
“We have got the best deal possible for this sale. The developer has a strong reputation and commitment to sensitive redevelopment of these Grade II listed buildings and the proposed development will increase city centre living,” said Cllr Rawson.
Other properties which are being put on the market are the former Debenhams building and five smaller properties on 1.28 acres of land. Together they cover 56,000 square feet in an area that is suitable for residential, commercial and/or leisure uses.
Bigger office spaces
Also in the neighbourhood is Duckworth Square, once a thriving commercial hub. It was purchased by the Council in March 2017 and has been earmarked for an ice-rink or other feasible leisure facility. Procurement of a leisure operator is underway with results expected in January 2018.
The Derby Cattle Market on 14 acres of land will also be going on the market.
In September, Cabinet is expected to consider recommendations for the new flagship Music and Performance Venue which is a vital to transforming the economy of the city centre.
“This is a major step forward for Derby. It will be the centrepiece of an emerging cultural hub in the city centre. It is also an important linchpin for stimulating the night time economy and creating vibrancy around the Market Place. A vibrant city centre is the driver of our local economy and I am convinced that once we get a new facility in place, it will spur business confidence and we will see more private sector investment which will help to transform Derby.”
More city-centre office space for growing businesses is also in the making.
“We are on course to transforming Derby into a vibrant City of Choice for businesses, investment, city centre living, cultural offerings and leisure,” added Cllr Rawson.