Derby is to receive a £15 million government cash boost to help renew and reshape the city centre following a successful bid by Derby City Council.
The submission to the Future High Street Fund, which is designed to help renew and reshape town centres and high streets across the country.
Marketing Derby, along with the Cathedral Quarter and St Peters Quarter BIDs, the University of Derby and Derby Centre, contributed to the shaping of the business case that was put to the Department of Housing, Communities and Local Government.
Councillor Matthew Holmes, deputy leader of Derby City Council and cabinet member for regeneration, planning and transportation, said: “Successful city centres are the ones able to combine great retail and leisure offerings with residential and business use.
“Our future High Streets Fund bid will help to shape a city that can be a great place to live, work and relax.”
John Forkin, managing director of Marketing Derby, said: “We know that the city centre needs considerable investment as part of its post-Covid repurposing.
“It's important now to move to delivery as quickly as possible as part of our place strategy to build confidence and diversify.”
Derby’s bid set out plans to reinvigorate the city centre, attract more visitors and create hundreds of jobs.
The final details on how the allocation can best be spent will be determined by the council in due course.
Talks are ongoing on potential schemes, which could see the creation of new office space and the regeneration of the Becketwell area of the city centre.
There are also talks over potential developments in digital infrastructure and technology in the city centre that could benefit visitors and improve links to key areas.
Work is already underway to repair the Market Hall roof and the refurbishment of the Grade-II listed building has been an important part of the city council’s plans for regenerating the city centre.
These plans would see the venue offering food and drink themed markets, a ‘make-and-trade’ zone for new entrepreneurs and space for events and activities.
Amanda Solloway, MP for Derby North, has also welcomed the funding boost.
She said: “This is great news for Derby and it will go a long way to helping boost our high streets and local economy.
“I would like to thank the city council for all their hard work in helping attract the funding to our city centre.
“Derby has always been a fantastic place to be, whether it is for work or recreation and there are great opportunities for the funding to make it even better.”