Deal agreed for Derby concert hall

Construction of a £46m concert hall in Derby could begin in January 2023 after developers signed a lease agreement with a venue manager.Developers St James Securities, together with Derby City Council, has signed contracts with US-based venue operator ASM Global for a new events arena in Derby city centre.ASM Global has entered into an unconditional agreement for lease with Derby City Council and St James Securities, giving the green light for construction work to start.ASM Global will work with the developer and the council on the design development.The proposed 3,500 capacity Becketwell Performance Venue (as it has been provisionally named) forms phase two of Derby’s £200m Becketwell regeneration scheme. GMI Construction is building phase one of the scheme, 259 build to rent apartments on the site of the former Debenhams store on Victoria Street. These are funded by Grainger, which will acquire and operate them.The new performance venue will be built on the site of the former Pennine Hotel, Laurie House offices, multi-storey car park and Pink Coconut nightclub in Colyear Street and Padley House in Becket Street. It will be owned by Derby City Council (which is bidding for City of Culture 2025) and leased to ASM Global, which also runs the OVO Arena Wembley, AO Arena Manchester, Utilita Arena Newcastle, First Direct Arena Leeds, Olympia London and OVO Hydro Glasgow.Planning consent for the arena was granted by the city council in October 2021. Demolition work has recently started, with construction work on the performance venue set to begin in January 2023, with completion and handover to ASM Global in late 2024.Future planned phases of the scheme include the potential for a range of other complementary uses of the site including new grade A offices and commercial space, a hotel and a multi-storey car park and purpose-built student residential.