Several flagship regeneration projects in Derby city centre are one step closer to getting underway, after Derby City Council appointed strategic real estate advisor, Avison Young, to support its vision.
Derby City Council has an ambitious vision to bring a new lease of life to the city centre through transformative regeneration projects that will deliver new residential and commercial property, a vibrant new cultural destination and improved public realm and connectivity. At the heart of the vision is supporting the post-pandemic recovery of Derby by driving footfall into the city.
Following a competitive process, Avison Young won the brief to provide strategic advice on projects and help the City Council to deliver against its regeneration and property vision. This will see specialists from Avison Young’s agency, land and development, planning, valuation, building and property management teams work with the Council on its existing priorities while identifying new opportunities, drawing on extensive public and private experience.
One of Avison Young’s first projects will be looking at the City’s Cultural Heart. Assets envisaged to play a leading role in the plans include the Market Place, Assembly Rooms, Museum of Making, formerly the Derby Silk Mill which opened in May 2021, as well as the transformed Market Hall and a new performance venue at Becketwell. The Cultural Heart plans also aim to reinforce the City’s bid to become City of Culture 2025 after it was named on the long-list of entrants through to the next round.
Laura Loftus, director at Avison Young, said: “There is huge impetus from Derby City Council and partners to transform Derby city centre with ambition, drive and determination, ultimately driving positive change in the wake of the Coronavirus pandemic.
“Cultural Heart is just the start of a longer journey, but demonstrates the scale of plans and the potential for the city. In realising this potential, we can not only increase the vibrancy of the area, but leverage further investment opportunities in the City and East Midlands region.
“Winning this brief is testament to the talent we have at Avison Young, and the track record we have working for multiple public sector bodies in spearheading and supporting major projects like Cultural Heart, from strategy through to delivery. We look forward to getting started and helping Derby City Council to make the vision a reality.”
Paul Simpson, Derby City Council’s Chief Executive, said: “Successful city centres with vibrant communities are key drivers of our local and national economy, and they have a leading role to play in delivering post-pandemic recovery across the UK.
“Our vision for Derby city centre, spearheaded by transformative regeneration projects with people at their heart, will build on the strength of our city and grow its reputation as a great place to live, work and invest.
“Avison Young brings demonstrable experience in delivering major projects for the public and private sector, and alongside other partners, we are excited to see what we can achieve.”
