Latest News | 31 March 2022

Law firm reveals key role in £200m Becketwell scheme

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Law firm Geldards has revealed the leading role it has been playing in the £200 million Becketwell regeneration scheme, acting as legal advisor to Derby City Council.

The firm has been providing legal advice to the council on its regeneration of the Becketwell area for some time, and construction is already underway on phase one to transform the former Debenhams site with 259 built-to-rent apartments.

Legal agreements have been completed and demolition has now started on phase two, which will include the development of a 3,500-capacity performance venue to be owned by the council and managed by ASM Global, which will create over 200 new jobs locally.

Partner Tiffany Cloynes, who heads the public sector team at Geldards, said: “Geldards is pleased to have played such a significant role in this major regeneration project for Derby City Council, which will be transformational for the city centre.”

Paul Simpson, chief executive at the city council, said: “Geldards were a key member of the council’s delivery team and instrumental in developing the partnership.”

Geldards’ public sector team have advised the council on all legal aspects of the Becketwell regeneration scheme since it acquired the former Debenhams site in 2017.

Tiffany led a team of over 10 lawyers in delivering the multi-million-pound deal, which will regenerate a strategically important part of the city centre.

Supported by property partner Paul Hilsdon and senior associates Rebecca Gilbert and Clare Hardy, Geldards advised on a wide range of complex legal issues for the benefit of the project from across the firm’s commercial property, planning, construction and tax departments.

Tiffany said: “The work was complex and multi-faceted and required a great deal of specialist legal advice, but we were delighted to be able to work so closely and effectively with the council’s very supportive in-house team.”

Paul said: “Becketwell Performance Venue is a landmark development for Derby.

“It will see the council funding and owning the 3,500-capacity venue with St James Securities, delivering the development and ASM Global becoming the operators on a long-term lease.

“The deal is key to putting culture at the heart of regeneration in our city, generating an additional £10 million a year for the area and diversifying the local economy.”

A number of other Bondholders have been involved in making the Becketwell regeneration scheme a reality. They include companies such as Rigby & Co, Rodgers Leask and Hodgkinson Builders.

Recently, Peveril Securities, the investment and development division of Bowmer + Kirkland was named as the development partner for the remaining phases of the scheme.

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