£3m boost for Derby Market Place transformation

Plans to transform the Market Place and Duckworth Square have received a £5m boost. Image by Derby City Council.

Plans to regenerate Derby’s Market Place and knock down the Assembly Rooms are set to be given a £3 million boost – just weeks before a crucial meeting which could decide the project’s fate takes place.

The long empty and former entertainment venue could be replaced with a new four-star hotel, office space and Derby MADE – a multi-use community building with exhibition space, a library and a rooftop bar. 

The East Midlands Combined County Authority (EMMCA) is set to hand over the seven-figure sum to Labour-led Derby City Council to put the ground work in for the major plans.

The regional authority says the cash will help “unlock” Derby’s potential “as a lively, attractive and inclusive place”.

Derby’s city council leader Nadine Peatfield has also hailed the £3m boost, adding it “marks another milestone in our journey to transform the former Assembly Rooms site”.

News of the funding comes ahead of a vital meeting set for Thursday, July 16th, in which it will determine whether outline planning permission for the major redevelopment project should be granted.

It is hoped that the granting of planning permission of the regeneration proposals will pave the way for the Assembly Rooms to be demolished – with the latter already approved.

The building has stood empty since a serious fire broke out in 2014. Since then different plans have been announced for the site.

A final decision was supposed to be made in a planning meeting in May but councillors voted to put it on hold to allow more time to get design issues “tidied up”.

But if planning permission is not granted next month then that could lead to further complications and uncertainty for the future of the site.

EMCCA said its £3m investment “would fund the work needed to prepare the site for development”.

Proposed work includes demolishing the former performance venue, beer cellar and multi-storey car park, removing any remaining asbestos and general site clearance. 

EMCCA will hold its investment committee meeting next week (Monday, July 29th) in Derby where it is expected the £3m allocation will be formally approved by members.

East Midlands Mayor Claire Ward said: “This £3m investment is another important step in turning ambition into action for Derby and the wider East Midlands.

“Derby Market Place is an important part of the city’s identity, and this funding will help unlock its potential as a lively, attractive and inclusive place that supports local businesses, brings people into the city centre and creates more reasons to spend time in Derby. ”

Derby City Council leader Councillor Peatfield added: “Thanks to EMCCA’s investment and our partnership with Ion Developments, we are moving forward with plans to create new opportunities, investment, and vibrancy in the heart of our city.”

When councillors on Derby City Council’s planning committee delayed their decision on the plans in May, there were mixed views on the scheme itself, with some keen to move forward, while others wanted more time to get clarity on design.

Speaking at the time, Councillor Lucy Care said: “Derby deserves better. We are missing an opportunity to have something that’s more creative.”

Cllr Miles Pattison told the meeting he felt there were “limitations” with the proposals.

But Cllr Martin Rawson said: “I’m really excited about this. It’s the most exciting application we’ve had in years.”