Loan could unlock regeneration plans around station

Derby City Council has approved a £500,000 loan, which could help kick-start major regeneration plans in the area around the city’s railway station.

Its cabinet recently approved the loan to property and regeneration firm LCR, which wants to buy Midland House, close to Derby Midland Station.

The acquisition could spark significant regeneration of the city’s Railway Conservation Area, creating a more attractive gateway into the city centre.

Councillor Chris Poulter, leader of Derby City Council, said: “The opportunity to support the purchase of Midland House, an important building in close proximity to the station, is really good news.

“Any step towards the improvement of the area around the railway station is most welcome.”

John Forkin, managing director of Marketing Derby, said: “We strongly support the improvement of the railway station area.

“This is an important gateway into the city, and we all recognise the need for its regeneration to bring it up to the level of some of the city centre schemes currently underway.”

Built in the early 1870s, Midland House was originally the headquarters of the Midland Railway.

Along with Midland Hotel and the remaining Railway Cottages, it is one of the city’s unique rail heritage buildings on the west side of Derby rail station.

The building is currently owned by the Department for Levelling Up, Housing and Communities (DLUHC) who have declared it “surplus to requirements”.

The former industrial land between the River Derwent and the railway lines on the east side of Derby station has now successfully developed into Pride Park, home to many rail-related businesses, including East Midlands Railway (BH).

It is hoped the sale of Midland House could spark a similar transformation to the west side of the station, where there is now renewed interest in the potential of the area.

Councillor Poulter said: “This is another example of how we have supported regeneration development in the city.

“The investment should tie in well with other improvements expected, through developments around main stations within the HS2 programme.

“Before Easter we should know where the headquarters of Great British Railways will be located which, if Derby is indeed selected, would further add to the potential improvements, to what is a crucial development area of Derby.”

LCR (London and Continental Railways) is wholly owned by the Department for Transport and works in partnership with local authorities, Network Rail and Homes England.

The company has invested millions of pounds transforming underused public sector properties, particularly around railway stations and transport hubs, into vibrant destinations.

In Derby, the company delivered a new business park at the former Rail Technical Centre, in London Road.