Derby City Council has proposed to appoint Vinci UK Developments and Ion Developments as strategic development partners to deliver the regeneration of the Market Place and former Assembly Rooms site in Derby city centre.

The former Assembly Rooms, constructed in 1977, have remained unused for more than ten years after being shut down due to a major fire in 2014. Additionally, £225,000 has been set aside to cover design costs over the next two years. The overall estimated value of the public-private partnership scheme is £100 million (US$132 million), with approximately £60 million (US$79.2 million) anticipated to be funded from public sources.

Both companies bring significant experience in delivering large-scale regeneration projects alongside local authorities. By engaging a private sector development partner, Derby stands to gain from their expertise, resources, and investment to help realise the Council’s ambitions for the city centre. The report also seeks Cabinet approval for the next phase of the Market Place project. In addition, the Planning Control Committee has agreed to amendments to the planning conditions related to the demolition of the Assembly Rooms. Demolition will commence once these conditions are met and the site is fully prepared, after which construction work will proceed.