£30m plan revealed to unlock key Broadmarsh site
The demolition of the remaining standing parts of the former Broadmarsh Shopping Centre in Nottingham city centre are scheduled to begin in July, newly-published documents show.
Nottingham City Council is asking the East Midlands Combined County Authority (EMCCA) to contribute £3.4m to an almost £30m to knock the rest of the derelict mall down.
The plans will be heard at a EMCCA investment committee meeting on Monday (February 24), when the business case for proceeding with the demolition will be heard.
Documents seen by TheBusinessDesk.com say: “Broad Marsh is Nottingham’s highest priority regeneration project. The masterplan for the scheme envisages that the former Broad Marsh shopping centre will have been replaced with a lively urban quarter, creating just over 2,000 jobs and providing a wide range of facilities, entertainment and attractions.
“Funding is sought towards early demolition works associated with the land to the East of the Green Heart including elements of the existing Broad Marsh shopping centre frame.
“Multiple attempts and iterations of the scheme have taken place to help enable the project for development. With the demolition of the Eastern side of the frame this unlocks the site for investment and development partners to derisk and deliver investment to the project.”
Nottingham City Council has been in charge of the former Broadmarsh site since shopping mall operator intu collapsed in 2020.
in its submission to EMCCA, the council says: “The demolition of the southern part of the frame structure will serve to reduce holding risk and make the site more ‘market-ready’. Feedback from soft market testing of private sector developers has indicated a strong appetite to get involved in the project but a requirement for further public sector
investment to de-risk the opportunity. By facilitating demolition and de-risking this project, it will unlock the delivery of close to 1000 new homes, 20,000 m² of employment space and wider regeneration benefits to an unused site in the centre of Nottingham.”
The demolition is projected to take 12 months to complete.
Earlier this year, the Labour leader of Nottingham City Council ruled out building any student accommodation on the site of the former Broadmarsh Shopping Centre.
Councillor Neghat Khan said the plans for regenerating the derelict site in Nottingham city centre will be revealed in March. She told a full council meeting that she will prioritise the building of family homes on the site, saying that there was “enough” student accommodation in the city centre.
