Development partners to be appointed to drive Market Place redevelopment

Derby City Council is set to formally appoint Vinci UK Developments and Ion Developments as its strategic development partners for the regeneration of the Market Place.

A report, which will be presented to the council’s cabinet next Wednesday, recommends that it enters into contracts with the development partners to transform key regeneration sites across the city centre, including the Market Place and former Assembly Rooms.

Both firms have extensive experience in large-scale regeneration in collaboration with local authorities.

The report also asks the cabinet to approve the next steps for the Market Place site.

Councillor Nadine Peatfield, city council leader and cabinet member for city centre, regeneration, strategy and policy, said: “Developing an exciting and deliverable replacement for the Assembly Rooms has been a long time coming and we know how frustrating this journey has been for residents – I have shared this frustration and welcome the opportunity to enter into a contract with our preferred development partners.

“This is a huge milestone, showing our confidence in Vinci UK Developments and Ion Developments and their ability to transform the Market Place.”

Since they were selected as preferred development partners in 2024, Vinci and Ion have been developing a masterplan, business case and planning application for the site, working closely with the council and consulting with members of the public and key stakeholders to shape the proposals.

Earlier this year, the council’s Planning Control Committee approved clarifications to the planning conditions for the demolition of the Assembly Rooms.

Demolition of the building will begin once these conditions have been satisfied and the site has been prepared, with construction to follow afterwards.

Once work starts on the demolition, it is expected to take around 12 months to complete.

Steve Parry, speaking on behalf of Vinci and Ion, said: “With the co-operation of the council and stakeholders we have reached a significant milestone in delivering this exciting project.

“We are looking forward to progressing through the various stages of the development process, including securing planning consent which will enable the demolition of Assembly Rooms and multi-storey car park, to be implemented.

“The proposed mix of uses will transform this area of the city, enhancing Derby’s commercial, cultural and tourism offer.”

The report also recommends that the cabinet approve the masterplan for the site.

Developed over the past few years, in consultation with residents, local organisations and key stakeholders, the masterplan includes a business plan for the site, which includes Derby MADE – a multi-use building on the site of the former Assembly Rooms, featuring a music venue, cultural / exhibition space, a young people and family library, and dedicated flexible working and meeting areas.

It also features proposals for Derby HOTEL, a full-service, four-star hotel, and Derby WORKS, new high-quality Grade A office space.

Nadine added: “This is an incredibly important site for Derby and it’s critical that we replace the Assembly Rooms with something that will last for generations and meet the needs of our residents.

“We’re now in a very exciting place, and residents can expect to see tangible progress start to happen.”

To find out more about the plans to redevelop the Market Place click here.