Investment News | 15 November 2022
Work starts on Becketwell’s multi-purpose public square
Construction work is underway on a new multi-purpose public square, which is being built as part of the £200 million Becketwell regeneration scheme in Derby city centre.
Called Springwell Square, it will be located on the site of the former Central United Reformed Church – and will be the centrepiece of the overall development.
Created as part of phase one of Beckwell’s regeneration, the public square will be adjacent to The Condor – Grainger Plc’s 259 build-to-rent apartments scheme being created on the site of the former Debenhams store, in Victoria Street.
Developer St James Securities was recently joined by representatives from Derby City Council, D2N2 Local Enterprise Partnership, main contractor GMI Construction and other key stakeholders for a ceremony to mark the start of work on Springwell Square.
Paul Morris, director of St James Securities, said: “We’re delighted to see construction work start on schedule on Springwell Square, the next stage of this landmark regeneration scheme for the city of Derby.”
Councillor Steve Hassall, the city council’s cabinet member for regeneration, decarbonisation, strategic planning and transport, said: “We secured the funding for this scheme with an aspiration to make Derby a vibrant place where people want to live, work, and visit. We are now seeing that aspiration become a reality.”
It is envisaged that Springwell Square will be multi-purpose, but with a focus on interaction with adjoining buildings and as a place to pause and relax, rather than a formal civic meeting or gathering place.
Both The Condor and Springwell Square are scheduled for completion by spring next year.
Mr Morris said: “Over the past five years, we have been real trailblazers, prepared to take on a site that has been challenged for many years and putting together a scheme which will breathe new life into the area.
“Springwell Square will open up land to the south and bring it back into use. It will be a place where people can meet and relax in an informal space and will improve the vibrancy and attraction of the city centre.”
Phase two of the Becketwell scheme will feature a new 3,500-capacity performance venue on the site of the former Pink Coconut nightclub, Laurie House offices, Pennine Hotel and multi-storey car park, in Colyear Street.
Once complete, it will be operated by ASM Global, the world’s leading venue management and services company, and producer of live experiences.
It will be a fully flexible, scalable space capable of staging concerts, stand-up comedy, family shows, musical theatre, conferences, and exhibitions, along with a range of business events.
Construction work on the performance venue is set to start early next year, with completion and handover to ASM Global in late 2024.
Future planned phases of the scheme include the potential for a range of other complementary uses of the site, including new grade A offices and commercial space, a hotel and multi-storey car park and purpose-built student residential.