Derby City Council is looking for a strategic partner to help it work on the next big phases of city centre regeneration.
The council wants to create a new partnership to build on the work already underway in areas such as the Becketwell development, Market Hall redevelopment, and Eastern Gateway project.
Despite current investment and the city being home to Rolls Royce, Alstom and Toyota, the council says “the city centre does not currently reflect Derby’s economic status”.
Three priority areas it is keen to see moving ahead include what is being called the “Cultural Heart of the City” around the Market Place, close to the River Derwent and cathedral. It includes a number of significant development sites owned by the council, including the former Assembly Rooms site and attached multi-storey car park.
Last month the city won £20 million of Government Levelling Up Funding to help the council, University of Derby and Derby theatre’s redevelop the Assembly Rooms site into a new theatre.
A second key area is the “Northern Gateway” in the Cathedral Quarter, taking in Queens Leisure Centre and the Chapel Street multi-storey car park.
The third site is vacant land around Bold Lane in the Cathedral Quarter next to Sadler Gate Studios.
The council expects to start inviting expressions of interest for potential development partners in March, with invitations to bid issued in April 2023. It is hoped a partner can be picked by the end of the summer.
Council leader Councillor Chris Poulter said: “We’re really excited at the prospect of working with a strategic development partner with a strong track record who will support the redevelopment of key areas of the city which require urgent investment.
“The partnership is a brilliant opportunity which will allow us to push forward with our ambitious plans for a vibrant city centre, delivering economic growth and attracting further private sector investment.
“Several major projects are already underway, but this is only the start.
“Despite a ‘perfect storm’ of rising costs, abnormally high inflation rates and increasing demand which have resulted in unprecedented budget pressures, the council is committed to exploring ways of maintaining momentum around the delivery of our city centre regeneration priorities.”
