An ambitious project to redevelop the Assembly Rooms venue in Derby will receive funds via D2N2 after the Investment Board voted to support the project.
D2N2 will now invest £4.48 million of the total £24 million needed to transform the venue from the organisation’s Local Growth Fund allocation.
Derby City Council is providing the remaining funding.
D2N2 Chair Elizabeth Fagan said of the news: “D2N2 has approved £4.48 million of funding towards the redevelopment of the historic assembly rooms building as part of the wider redevelopment of Derby City Centre.
“A new assembly rooms in the heart of Derby, along with the re-developed Silk Mills will once open, attract new visitors and investment into the City which in turn will support more jobs and private investment into the economy.”
The development will see the new Assembly Rooms act as a city centre entertainment hub providing a multi-functional space for concerts, pantomime, corporate events, conferences, exhibitions, comedy, family theatre shows, weddings and more.”
The venue is expected to host hundreds of events each year, in turn, expected to attract 160,000 visitors to the city centre.
D2N2 is the private sector-led partnership which promotes economic growth across Derby, Derbyshire, Nottingham and Nottinghamshire. It has been allocated more than £250m in LGF funding from the Government to part-fund infrastructure projects which directly help its area’s economy and create jobs.
Local Enterprise Partnerships are playing a vital role in driving forward economic growth across the country, helping to build a country that works for everyone. That’s why by 2021 Government will have invested over £12 billion through the Local Growth Fund, allowing LEPs to use their local knowledge to get all areas of the country firing on all cylinders.
Councillor Matthew Holmes, Deputy Leader of Derby City Council, said of D2N2’s involvement in the Assembly Rooms scheme: “Securing this funding is another step forward to deliver this project. The D2N2 LEP has been a fantastic partner and with their support, we can get the new Assembly Rooms open to the public and contribute to the City.”
Minister of State for Local Growth, Jake Berry said: “This Government is committed to boosting economic growth across the Midlands Engine and throughout the UK as we leave the EU on October 31.”
“Supporting the physical transformation of the iconic Assembly Rooms is just one of the ways that the Government is helping local communities in Derby to thrive. The Government’s £4.48 million investment from the Local Growth Fund will provide an exciting, multi-use space for concerts, conferences, exhibitions, family theatre shows, weddings and more – supporting the rejuvenation of Derby City Centre and driving further economic development.”
The new Assembly Rooms
When the New Assembly Rooms open, visitors will be greeted with a building designed around them.
Customer areas, from entering the venue through to the auditorium seating, will all be improved to give a better customer experience.
In a demonstration of support for the project, the proposals received no objections from members of the public throughout the planning application process. This also reflects the excellent backing the proposals received when they were announced earlier this year.
Delivery of the new Assembly Rooms is Derby City Council’s number one city centre priority.
It’s part of Derby’s City Centre Master Plan developed by the public-private Vibrant City Partnership.
It will be a catalyst for further investment in retail, leisure and office accommodation, re-invigorating the day and night-time economies of the city that will drive economic development.
The new Assembly Rooms will be operated on a more commercial model, prioritising events that attract the largest audiences and to make the best use of the maximised space. Investment in commercial expertise will ensure that the venue reaches its full potential and is put to its widest possible use.
Media wanting more information about the D2N2 LEP can contact Luke Stott, D2N2 Digital Marketing Officer, on 0115 9578749 or email: Luke.Stott@d2n2lep.org