Funding. Place Projects - 01 August 2017

High interest reported in Becketwell development site in Derby

Significant developer interest in the Derby city centre Becketwell site has been reported – land being redeveloped with the aid of £4million via the D2N2 Local Enterprise Partnership.

Derby City Council has been trying to redevelop the unused city centre business site for years, which includes a former Debenhams store building (left of picture). The Council is now reporting a high level of developer interest in buying this building, which it put on the market earlier this year (2017).

Site development is being aided by a £4million Local Growth Fund (LGF) grant via D2N2; the private sector-led Local Enterprise Partnership promoting economic growth across Derby, Derbyshire, Nottingham and Nottinghamshire. D2N2’s LGF allocation is used to co-fund projects which create the infrastructure and capital projects needed to grow the economy.

The Becketwell site, which also includes Duckworth Square, is to be regenerated for retail, commercial, residential and leisure uses.

Derby City Council said it had received expressions of interest from a wide range of specialist developers and investors across the East Midlands, as well as national and international attention on the development opportunity.

Council property advisors, Cushman & Wakefield, are now working with interested parties to progress proposals for the site, with a view to shortlisting bidders. A decision on the sale is expected in the winter.

Construction on-site is expected to begin in 2018 with an anticipated completion date of 2020/21.

For further information about this article contact Sean Kirby, D2N2 Communications Manager, on 0115 957 8749 or email sean.kirby@d2n2lep.org

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