Plans for Derby’s new performance venue has reached a new milestone, as contracts are signed this week between Derby City Council, St James Securities, and ASM Global
Planning permission and land acquisitions for Derby’s new performance venue have now been fully satisfied, and ASM Global has entered into an unconditional agreement for lease with Derby City Council and St James Securities, who will give the green light to start construction work.
Derby’s new 3,500 capacity entertainment venue forms phase two of the £200m Becketwell regeneration scheme, which is the most significant urban regeneration scheme in the city for more than 30 years.
Construction work is underway on phase one of the scheme with 259 build to rent apartments on the site of the former Debenhams store on Victoria Street.
Derby’s new performance venue will be built on the site of the former Pennine Hotel, Laurie House offices, multi-storey car park and Pink Coconut nightclub in Colyear Street and Padley House in Becket Street.
The venue will be owned by Derby City Council, and leased to and operated by ASM Global.
Derby’s new performance venue will add to the cultural offering of the city
The venue will offer a larger, more flexible space than the city centre, and will collaborate with and complement the activities of Derby Arena to provide the best possible events programme for Derby and the wider region.
The venue is a key component of Derby’s recovery plan which is putting culture at the heart of the city centre and is playing a major role in Derby’s bid for City of Culture 2025.
The planning application for the venue received the written support of key stakeholders and business leaders including:
- D2N2 LEP
- East Midlands Chamber
- The University of Derby
- Derbion
- Marketing Derby
- Derby Live
- Déda
- QUAD
- Derby College
- Pauline Lathan MP
- Amanda Solloway MP
- Margaret Becket MP
- The Cathedral Quarter
- St Peter’s Quarter BIDS
Once completed, Derby’s new performance venue will host over 200 cultural and commercial events each year and attract an additional 250,000 visitors to Derby.
It is also expected to create over 200 new local jobs, generate more than £10m GVA per year for the area, diversify the economy and increase levels of investment in surrounding areas of the city centre.
The new venue will create hundreds of jobs
Chris Poulter, leader of Derby City Council commented: “This is an exciting milestone in delivering The Becketwell Performance Venue. This new and flexible space is a key part of putting culture back into the heart of Derby.
“We are delighted to be moving on the next steps of this journey working together with long term partners ASM Global and St James Securities.”
“This ambitious venue run by a world-leading operator will create hundreds of jobs, attract investment and generate millions of pounds each year for the city along with attracting new visitors and residents to Derby City Centre.”
‘An ambitious and transformational development’
Chris Bray, executive vice president, Europe of ASM Global said: “This deal marks the start of an ambitious and transformational development, and ASM Global is incredibly pleased to be a part of the journey.
“We’re excited to join forces with Derby City Council and St James Securities for this significant regeneration, and new cultural hub in the centre of Derby.”
Demolition work has recently commenced, with construction work set to commence in January 2023, with completion in late 2024.
