Future of Derby performance venue thrown into doubt as funding is reallocated

How the new Assembly Rooms could have looked

A new Derby Assembly Rooms development seems dead in the water after cash that was earmarked for building a new venue has been diverted towards another city centre scheme.

An undisclosed portion of an £8.6m grant that was initially meant to be used for the construction of a new music and performance venue in Derby city centre has been reallocated by D2N2 Local Enterprise Partnership (LEP).

The Infrastructure and Investment Board (IIB) of D2N2 LEP agreed to transfer a portion of this money to the Becketwell Regeneration Scheme to buy properties in the area.

The decision, at the LEPs meeting on 13th September 2018, is subject to the receipt of a satisfactory business case for Becketwell. The remainder of the money will remain in the portfolio for the renewal of the Assembly Rooms.

The amount of money that has been approved cannot be revealed due to commercial sensitivities in the ongoing Becketwell negotiations, said Derby City Council.

When completed, Derby City Council estimates the Becketwell site project will produce:

99 new homes
142 full-time equivalent jobs
£29m in investment levered in from other public and private sector sources
3hectares of redeveloped brownfield land
1,336 sq m of commercial floor space.

Leader of the Council Chris Poulter said: “Our strategy for Becketwell is a holistic development plan which involves the removal of hurdles blocking private sector investment. The opportunity arose for us to acquire additional properties in Becketwell which we are persuaded will help to remove these barriers. We are therefore grateful that D2N2 is prepared to invest in this project which will help to transform the city centre into a vibrant place.”

The decision is a considerable U-turn on plans Derby City Council announced in January of this year when it took a decision to move ahead with the 3,000-capacity £32m Music and Performance Venue to replace the 40-year old Assembly Rooms in the city centre after a public consultation.

Derby City Council says the consultation threw “very strongly held views” that a new venue must be delivered sooner rather than later and that this must be a regeneration priority so that Derby can offer a good range of culture options in the city centre.

The Council agreed to spend £500,000 on looking to procure an operator for the new music and performance venue last year.

The then deputy leader and cabinet member for regeneration and economy councillor Martin Rawson said in January: “Derby is already the third fastest growing city-economy in the UK. This new venue is a game changer and a catalyst for further investment that will help us build our economy for the benefit of all. This option will also complement plans by the University of Derby for expansion of the Derby Theatre and from a financial perspective, the Music & Performance Venue is the best investment for the Council.”

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