A £20m bid to the Government’s Levelling up Fund has been submitted by Derby City Council.
If successful, the funding would contribute to the delivery of the highly anticipated new 3,500 capacity Becketwell Performance Venue. The Government investment would make the project better value for Derby citizens and free up Council funds to level up the city.
Commenting on the ambitious bid, Deputy Leader of Derby City Council, Cllr Mathew Holmes, said:
We are fully committed to delivering the new venue as part of the Derby recovery plan and the city’s cultural ambitions. This venue will help level up the city and enable us to build back better by diversifying our economy and attracting more people into the city centre.
Hosting over 200 events and attracting an additional 250,000 visitors each year the venue will help diversify the economy and increase investor confidence.
It is anticipated the project will create 200 new local jobs and generate more than £10m per year for the area, giving the city centre economy a significant boost.
The ambitious new venue will be a fully flexible, scalable space capable of staging concerts, stand-up comedy, family shows, musical theatre, conferences, and exhibitions. It will feature a 3,500-capacity events auditorium and a smaller 400 capacity secondary space to enable Derby to attract a range of exciting events.
Developer St James’s Securities will deliver the new state of the art venue which will be owned by Derby City Council and operated by world-leading operators ASM Global.
Work on the venue is expected to start early next year and handed over in 2024.