D2N2 LEP awards £7.99m to Nottingham City Council to facilitate Broadmarsh redevelopment

Added by Love Business East Midlands | 25 March 2021

UPDATED: 25 March 2021

The award will allow for preparation of the site as part of the wider Nottingham Southside redevelopment.

 

Nottingham City Council has been awarded £7.99million from the D2N2’ Local Enterprise Partnerships Getting Building Fund (GBF) allocation to demolish part of the Broadmarsh centre site for future developments.

The Getting Building Fund is part of government’s package of financial support to kick-start the economy, create jobs and help areas facing the biggest economic challenges as a result of the coronavirus pandemic.

The D2N2 LEP region was awarded £44m through the Getting Building Fund and is investing in ten projects across Derby, Derbyshire, Nottingham, and Nottinghamshire to create 4935 jobs, support 1060 learners, and build 3389 homes.

The award, along with £4m of match funding from the Transforming Cities Fund, will facilitate the first phase of the redevelopment of the Broadmarsh Centre with work expected to start in April 2021.

This latest funding for Broadmarsh is part of a total £250million public sector investment in the £2 billion regeneration of what is termed the ‘Nottingham Southside’ project, an ambitious plan to redevelop large sections of the southern side of Nottingham city, making it a better place to work, learn, play, and live.

D2N2 has invested over £62million into Nottingham Southside. Projects include the new Central Library, the  Broadmarsh Car Park and Bus Station and improvements to public spaces and the road infrastructure, the new Nottingham College City Hub and the redeveloped Nottingham Castle.

Elizabeth Fagan, Chair of D2N2’s Board said:

“This project is an integral part of Nottingham’s Southside regeneration. The first phase of the redevelopment of the Broadmarsh Centre will capitalise on our previous investments to enable the city to attract major new investment and support one of our key cities in its future recovery and long term sustainable growth.”

Nottingham City Council Leader, Councillor David Mellen, said:

“The Broadmarsh site and wider Southside area represents one of the largest regeneration areas in any UK city and is a vital part of reimagining Nottingham city centre post-Covid.

“It was less than ten months ago when the Council was handed the lease for the Broadmarsh centre site after intu went into administration. It presented a massive challenge but we moved quickly to carry out the work needed to keep the important right of way through the centre open and to start the process for securing funding for the first phase of redeveloping the site.

“Final confirmation that our bid has been successful is a big step forward. The demolition of the west side of the site can now begin which will open up the space through Lister Gate and into the heart of the city as well as enhance views of Nottingham Castle, which itself is currently undergoing a major transformation.

“It will prepare the way for a new vision for Broadmarsh to be developed and we have asked an independent Advisory Group to make recommendations on how that can be created and delivered.”

< Back