Real estate firm selected to support city centre regeneration plans

Derby City Council has appointed a real estate firm to help support several flagship regeneration projects planned for the city centre.

Avison Young has been appointed by the city council as its strategic real estate advisor.

The 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.

Avison Young has won the brief to provide strategic advice on projects and help the city council to deliver against its regeneration and property vision.

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, 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 longlist of entrants.

Paul Simpson, the 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.”

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.

“We look forward to getting started and helping Derby City Council to make the vision a reality.”