16th July 2020
The new entertainment and conference venue will be located in the heart of the city centre on the site of the former Pink Coconut nightclub. It is expected to be a significant attraction for Derby by adding a much needed new ‘Cultural venue’ but also supporting the important regeneration of a long disused site linking the Intu Shopping centre and the Cathedral Quarter.
It’s anticipated that the venue will hold hundreds of cultural and commercial events each year offering a fantastic and varied programme for local people and attract an additional quarter of a million visitors to Derby.
Over 200 new local jobs are expected to be created giving the city centre economy a significant boost. The scheme is set to generate more than £10m per year for the area, providing a massive stimulus to local businesses. The level of confidence in Derby illustrated by this investment from the private sector demonstrates a positive belief in Derby and its future – despite the challenges of Covid-19 to our local economy.
On the announcement Cllr Matthew Homes, Deputy Leader of Derby City Council, said:
“We are working together with experienced commercial sector partners to put the best venue option on the table. This is about creating a vibrant, thriving city centre, and rejuvenating areas that have seen a decline. A new venue like this will significantly aid our recovery efforts and boost business confidence by creating hundreds of jobs, putting millions into the local economy, and make a big contribution to Derby’s future prosperity.”
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