Investment News | 22 March 2023
Plans to transform historic department store revealed
Plans have been revealed to breathe new life into the former Bennetts department store in Derby city centre.
Manston Investments has lodged a listed building application with Derby City Council to repurpose the Iron Gate property, to provide a range of different uses.
The firm has been working with a team that includes architects JSA and cost consultants Armsons Barlow to work up plans for the building, which has been empty since the middle of 2019.
Tom Boardman-Weston, from Manston Investments, said: “The scheme to bring this property back to life has not been without its difficulties, both in respect of the structure itself, the listed status of parts of the building and also the problems of deferring site meetings during Covid lockdowns.
“We still have a long way to go, but we are heartened by the very positive feedback we have been getting to our proposals.”
John Forkin, managing director of Marketing Derby, said: “This application from Manston Investments is a really positive statement of confidence, which we welcome. Iron Gate is one of the city’s most elegant streetscapes and it has been a real shame to see the iconic Bennett’s building empty at its heart.
“We will continue to support Manston in moving their vision forward and have been working with them and other Iron Gate businesses, encouraging collaboration to bring the street back to its best.”
The department store had occupied the site in Iron Gate since the 19th century, but closed after Bennetts went into administration and never reopened.
Manston wants to repurpose the 29,000 sq ft of floorspace of the property, part of which is listed, for a variety of different uses.
Its proposals involve the partial demolition of some of the more modern parts of the building at the rear to create a whole new entrance to the upper floors.
It would also create a servicing area for two smaller retail/leisure/food and beverage uses fronting Iron Gate.
The remaining unit at the rear and the first floor would be converted to high end office accommodation.
The plans also show the top floors being converted to provide eight residential units.
Mr Boardman-Weston said: “Having originally bought the property as an investment in better times, we have ‘skin in the game’ to work towards improving this part of the city with our scheme, and thereby hopefully encouraging the re-use of other buildings in the Cathedral Quarter.”
Mr Boardman-Weston believes the timing of the project is right, given the numerous other developments taking place to regenerate the city centre.
He said: “We are keen to play our part in the resurgence of Derby city centre.
“Projects such as Becketwell, the refurbished Market Hall, Derbion’s proposals for the Eagle Centre and Bradshaw Way Retail Park, and the redevelopment of the Assembly Rooms, are all helping to move the city centre in the right direction.”