Plans to deliver a new 3,500 capacity performance venue in Derby’s Becketwell area are set to win the city council’s approval.
The scheme was drawn up last year by developer St James Securities and Derby City Council.
And the council is now poised to sign a £48 million fixed-price deal with the developer for the project which will spark the regeneration of the run-down area of the English city.
The new entertainment and conference venue will be located in the heart of the city centre on the site of the former Pink Coconut nightclub.
It is expected to be a significant attraction for Derby by adding a much needed new ‘Cultural venue’ but also supporting the important regeneration of a long disused site linking the Intu Shopping centre and the Cathedral Quarter.
It’s anticipated that the venue will hold hundreds of cultural and commercial events each year offering a fantastic and varied programme for local people and attract an additional quarter of a million visitors to Derby.
Over 200 new local jobs are expected to be created giving the city centre economy a significant boost. The scheme is set to generate more than £10 million per year for the area, providing a massive stimulus to local businesses.
The new music, entertainment and conference events venue will be housed in a purpose-built facility. It will be a fully flexible, scalable space, with a capacity of up to 3,500, with secondary space up to 400 capacity.
It will offer a significantly larger and more flexible space than the City has had in the past and it will appeal to a wider range of audiences in a purpose-built setting run by a nationally respected operator.
The new venue will collaborate with and complement the activities of Derby Arena to provide the best possible events programme for Derby. The two venues will work together to ensure we can maximise the number of events that can come to Derby .
Builder GMI Construction is understood to have been selected to start work on the project next month.
A new large-scale venue is a key component of Derby’s masterplan for the city centre which has been developed collaboratively between the public and private sectors. It is envisaged that the venue will act as a catalyst for further investment into the city-centre and boost the vibrancy of the area. The leisure and retail experience will be greatly enhanced invigorating the day and night-time economies.