GBR Becketwell option would bring greater economic impact says report

Locating the headquarters of Great British Railways at Becketwell could yield more economic benefits for the city, according to a new report.

The economic impact assessment, prepared by CBRE, claims that locating the GBR base in the city centre could generate up to £151 million in economic value and support more than 1,200 jobs.

Becketwell, which is being delivered by St James Securities, is one of two shortlisted locations for the headquarters – the other is Midland House, opposite Derby Midland Station.

The CBRE assessment highlights the transformational potential of the Becketwell scheme, with the proposed 3 Springwell Square development delivering between 855 and 1,244 full-time equivalent jobs, compared with 372 at Midland House, which is located opposite the railway station.

This represents an additional 483 to 872 jobs for the city and wider region.

The report also shows that Becketwell could generate £107 million to £151 million in Gross Value Added (GVA) during construction and operation, compared with £27 million for Midland House, an uplift of up to £124 million.

GVA measures the real economic value created by a development – the money generated to pay wages, support local businesses and drive economic growth in the area.

The assessment also highlights a significant increase in city centre footfall as a direct result of locating GBR at Becketwell.

The development is expected to generate between 8,750 and 12,700 additional visits per month – around a 10% increase in current footfall levels.

The 3 Springwell Square building is designed to offer between 96,200 sq ft and 140,000 sq ft of high-quality, flexible office space – significantly larger than Midland House (47,200 sq ft).

This will provide enough space for businesses seeking to co-locate alongside GBR, creating the foundations for a wider ‘Derby Rail Campus’.

The campaign to bring GBR to Becketwell has so far received backing from Derby MPs Baggy Shanker and Catherine Atkinson as well as other civic, business and cultural leaders.

In a letter of support, Bob Betts, executive chairman at Marketing Derby, said: “The socio-economic and regeneration benefits of locating the HQ of Great British Railways at Becketwell are obvious, extensive, and fit strategically with the longstanding local and regional strategic ambitions for Derby city centre.

“We strongly advocate that Becketwell is the clear choice of the two shortlisted sites.”

David Williams MBE DL, chairman of law firm Geldards, said: “I am of the very firm belief that the location of GBR’s HQ in the centre of Derby, rather than outside it at Midland Road, is the most appropriate decision.

“The impact of a new building such as this in the city centre would go far wider in terms of confidence in the city than the alternative option.”

Academic institutions have also thrown their support behind the Becketwell option.

Professor Kathryn Mitchell CBE DL, vice-chancellor and chief executive of the University of Derby, said: “We strongly believe that positioning the headquarters at the heart of the city presents a significant opportunity to enhance Derby’s economic vitality and sense of place by increasing daily footfall, activity, and visibility in the city centre.

“Bringing a substantial workforce into the city centre will contribute positively to its vibrancy, support local businesses, and reinforce the benefits already being delivered through regeneration activities.”

Heather Kelly, deputy chief executive of Derby College Group, said: “Derby College Group supports the proposal for GBR’s HQ location in Becketwell, an area that is being reinvigorated with new developments and that is helping to create a vibrancy in our city, bringing great benefits to our students and the wider community.

“The proposal for a Grade A build aligns with our own goals for long-term sustainability and is vital for a much-needed modernisation of the city centre that will no doubt attract others.”

Cultural institutions such as Vaillant Live and Derby Museums have also added their backing.

Paul Morris, development director at St James Securities, said: “This independent assessment clearly demonstrates the scale of opportunity that Becketwell represents, not just for Great British Railways, but for Derby and the wider region.

“This is about much more than creating a headquarters building. It is about creating jobs, driving economic growth and bringing long-term confidence back into the city centre.”