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East Midlands Chamber News

£15m grant for Derby regeneration schemes could create hundreds of jobs

The Becketwell area of Derby is earmarked for regeneration

Derby is to receive a £15m Government cash boost to help renew and reshape the city centre following a successful bid by Derby City Council.

The grant from the Future High Street Fund, which is designed to help renew and reshape town centres and high streets across the country, will be used on projects that will help to attract more visitors and create hundreds of jobs.

Talks are ongoing on potential schemes but could involve new office space and the regeneration of the Becketwell area of the city centre, while potential developments in digital infrastructure and technology are also under consideration.

Councillor Matthew Holmes, deputy leader of Derby City Council and cabinet member for regeneration, planning and transportation, said: “Successful city centres are the ones able to combine great retail and leisure offerings with residential and business use.

“Our future High Streets Fund bid will help to shape a city that can be a great place to live, work and relax.”

Derby city centre regeneration schemes already underway

The final details on how the allocation can best be spent will be determined by the council in due course.

Work is already underway to repair the Market Hall roof and the refurbishment of the Grade-II listed building has been an important part of the city council’s plans for reinvigorating the city centre.

These plans would lead to the venue offering food and drink themed markets, a “make-and-trade” zone for new entrepreneurs and space for events and activities.

Marketing Derby, along with the Cathedral Quarter and St Peters Quarter business improvement districts, University of Derby and Derby Centre, contributed to the shaping of the business case that was put to the Department of Housing, Communities and Local Government.

John Forkin, managing director of Marketing Derby, said: “We know that the city centre needs considerable investment as part of its post-Covid repurposing.

“It's important now to move to delivery as quickly as possible as part of our place strategy to build confidence and diversify.”

Amanda Solloway, MP for Derby North, has also welcomed the funding boost.

She added: “This is great news for Derby and it will go a long way to helping boost our high streets and local economy.

“I would like to thank the city council for all their hard work in helping attract the funding to our city centre.

“Derby has always been a fantastic place to be, whether it is for work or recreation and there are great opportunities for the funding to make it even better.”