Plans by the University of Derby to build a multi-million pound business school in the city centre have been given the green light.
Earlier this year, the university submitted a planning application to Derby City Council to build the Derby Business School on land adjacent to its One Friar Gate Square building.
The plans, which received overwhelming support from Marketing Derby and the Derby Economic Development Advisory Committee (DADAC), were recently given unanimous approval at a recent meeting of the city council’s planning committee.
The new building is projected to be the study base for more than 6,000 students by 2030.
It represents the first element of the university’s City Masterplan, which is the vision for how the university intends to develop its city centre presence and improve connectivity between its sites.
Professor Kathryn Mitchell CBE, vice-chancellor and chief executive of the University of Derby, said: “We are delighted that the planning application for our city centre-based Derby Business School has been approved.
“This is a key milestone for the project, and we are extremely pleased to have reached this stage.”
The business school will feature innovative teaching and learning spaces, including a virtual reality suite, stock market trading room and creative labs.
Alongside this, the building will be a technology-enabled smart campus and be used as a living lab for research projects from across the university and industry.
In a letter backing the proposals, which was submitted to the city council, Marketing Derby’s managing director John Forkin wrote: “The university’s proposal for a new Business School enhances the city’s regeneration prospects and will bring significant economic benefits to a currently underused part of the city.
“The proposed development will contribute to the objectives of the Derby Recovery Plan and fits with the city’s core recovery themes; maintain confidence in the city, decarbonisation and diversification of the economy.”
Construction of the business school, which is proposed to be net zero carbon in construction and operation, is due to start in November, with the building earmarked to open in September 2024.
Professor Mitchell said: “The building will be crucial in the city’s regeneration plans and will offer students a high-quality, innovative learning and teaching environment.
“Working closely with our partners, we are looking forward to the next phase of this ambitious and significant development.”