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Cabinet backing for job-creating office scheme

Source: www.insidermedia.com

Proposals for a new £6.3m office block in Derby city centre which could create up to 200 new jobs have taken a step forward after the plans were backed by the city council.The authority is exploring the possibility of constructing a four-storey building in Bold Lane to address “the market failure in the supply of larger, high-quality office units in the city centre” after its cabinet has voted to back the proposal.The building, which would have 27,000 sq ft of lettable space, is now set to be the subject of a planning application. The £6.3m cost would require council investment through service financed borrowing and support from the Regeneration Fund.