Milestone reached on £45.8m performance venue

A major milestone has been reached on the proposed £45.8m performance venue being brought forward as part of the regeneration of Derby’s Becketwell area.Planning permission, land acquisitions and other pre-commencement conditions have now been fully satisfied and ASM Global has entered into an unconditional agreement for lease with Derby City Council and St James Securities, which will give the green light for construction work to commence.ASM Global, which has a global network of more than 350 venues, will work with St James Securities and Derby City Council on the design development of the venue. The 3,500-capacity facility is set to host more than 200 cultural and commercial events each year and attract an additional 250,000 visitors to Derby. It is also expected to create in excess of 200 jobs and generate more than £10m GVA per year for the area.The venue forms phase two of the £200m Becketwell regeneration scheme, with construction underway on phase one, comprising 259 build-to-rent apartments on the site of the former Debenhams store on Victoria Street.Future planned phases of the scheme include grade A offices and commercial space, a hotel and a multi-storey car park and purpose-built student accommodation.