Fighting Labour’s threat to Derby jobs & investment.
Derby will receive another regeneration and jobs boost in February when the construction of a multi-million-pound office development begins. This is despite continued efforts by Labour to savagely cut the Council’s regeneration delivery team budget by around 40%.
Developer Lowbridge has said that it will begin building the first phase of the £20 million Friar Gate Square scheme, creating about 250 jobs, on February 13. The site is on the corner of Agard Street and Ford Street and will be the first office development to be built in Derby for around 20 years.
Derby City’s Conservative-Led Council has helped kick-start the project with a financial contribution from its £10 million Regeneration Fund. The fund was set up to stimulate office developments in the city centre and to help with construction costs. Without this fund, Derby would not be in a position to forge ahead with its ambitious regeneration and jobs creation plans at a time when they are most needed.
Friar Gate Square will be a two-phase development. Work on the second phase will begin once all the offices in the first phase have been established and it is believed the development will create 700 jobs.
Derby Conservative and Council leader, Philip Hickson said: “This project will deliver major regeneration benefits and provide an enormous boost for the city. The council has an ongoing commitment to stimulating the economy in Derby and the purpose of the regeneration fund is to help kick-start schemes which otherwise might not start because of the economic climate.
If we encourage developers to start work on new schemes, they will become a catalyst for others to follow and the city will benefit from the major inward investment that is generated. At present, Derby has about a million square feet of city centre office projects waiting to be built.”
Cllr Hickson continued, ” But because of a lack of confidence in the market, developers are struggling to attract investment for projects where a tenant is not already in place.”
In contrast the Derby Labour group continue to propose a devastating 40% cut to the Council’s budget that delivers and manage regeneration and investment across the City.
The ongoing work is the cornerstone to the delivery of regeneration projects planned or being delivered across Derby. Under Labour, developers would be forced to look elsewhere and jobs lost to other Cities.
Under Conservative leadership, Derby remains ‘Open for Business’ and is being recognised nationally as a place to do business and invest.”
Derby Conservatives are working hard for Derby and the following projects are already underway or planned:
• Regeneration Investment Fund – to create a quality commercial office market in Derby city centre.
• Castleward Urban Village – to create a largely self-contained ‘urban village’ of 800 homes on land between the city centre and the railway station.
• Osmaston Vision – to work with the local community and Rolls Royce to transform this area that has suffered from industrial blight and neglect in the past.
• To work with our two independent Business Improvement Districts to promote the interests of businesses in the city centre.
• City Centre Regeneration Framework – this provides a framework for the physical development of the city centre.
• A host of other regeneration projects of strategic significance including projects to support local investment by our major manufacturers and projects to address significant areas of neglect in the city centre.

