Contracts have been signed between Derby City Council, Leeds-based developers St James Securities and venue management and services company, ASM Global, for Derby’s new £45.8m events venue.
The venue, located in Derby city centre, will be owned by Derby City Council and leased to and operated by ASM Global.
As part of the contract, ASM Global will work with St James Securities and Derby City Council on the design development of the venue.
The new 3,500 capacity entertainment and events venue forms phase two of the £200m Becketwell regeneration scheme.
The venue is set to host over 200 cultural and commercial events each year and attract an additional 250,000 visitors to Derby.
It is also expected to create over 200 new local jobs, generate more than £10m GVA per year for the area, diversify the economy and increase levels of investment in surrounding areas of the city centre.
Moreover, it is a key component of Derby’s recovery plan which is putting culture at the centre of the city centre and is playing a role in Derby’s bid for City of Culture 2025.
Demolition work has recently commenced, with construction work on the performance venue set to commence in January 2023, with completion and handover to ASM Global in late 2024.
