This information was presented at the Derby Regeneration Fund Event Launch at The Roundhouse, Derby on 23rd November 2010 by Cllr Alan Grimadell, Adam Wilkinson and Richard Williams from Derby City Council.
Derby City Council has made a massive statement of intent this week by launching a new £10m Regeneration Fund to support new development in the city.
The City Council has expressed its desire to be at the forefront of economic interventions during this current economic climate and the £10m fund is one manifestation of this.
The fund is seeking to support property development schemes that will deliver high quality and sustainable accommodation that will support high added value businesses within or impacting upon Derby City centre.
Funding from £400,000 to £4 million per project is available to private sector companies including landowners, developers and owner occupiers seeking to deliver property projects with Derby City Council investment partner.
For more details including instructions for making an expression of interest, visit www.derbyregenerationfund.co.uk or call Thomas Lister on 01527 871 640.
7. SCHOOLS
New Noel Baker Community
and Language College and
St Martin’s Special School
- Start on site December 2010
£37million
- Plus Village Primary School
£7million
8. SCHOOLS
Building Schools for the Future
- Derby Moor Community
Sports College – new
build and part refurbishment
Start on site January 2011 -
£20million
- Plus new Sinfin
Community School -
£17million
12. CASTLEWARD URBAN VILLAGE
- £100million
- 20 year partnership
- 800 dwellings, new
nursery and primary
schools, community
building, retail/
commercial, active
boulevard frontages
- Phase 1: Spring 2012
140 units, 5 acres
14. Survey of building stock and sporting facilities in
2009 identified
– Deteriorating and ageing stock
– Suffered from years of under-investment
– Need for significant refurbishment or
replacement
– To ‘stand still’ would require £18m investment
– Lack of regional facilities
– Need to spend over £20m on
repairs/refurbishment in coming years
MOORWAYS
15. LEISURE FACILITY STRATEGY –
STANDARD PROCUREMENT
- 2 Hubs – Swimming
Pool and Velodrome
- 2/3 sites identified for
each
16. LEISURE FACILITY STRATEGY –
STANDARD PROCUREMENT
- 2 Hubs –
Swimming Pool
and Velodrome
- 2/3 sites identified
for each
18. LEISURE FACILITIES STRATEGY –
OPPORTUNITIES FOR DEVELOPERS
- Basic package – one or both sites
- Further hub sites may be proposed
- Options to range from turnkey package to
Council ownership
- Private sector faster and more experienced in
site assembly
- Leading to OJEU process
19. PROCUREMENT OF DERBY’S LEISURE STRATEGY
Launch Event
Formal Market Sounding:
One to One Workshops
Project Refinement
OJEU Procurement
- 23 November 2010
- January 2011 (8 weeks)
- February 2011 (4 weeks)
- March 2011
20. REGENERATION FUND - £10MILLION
- No city centre offices in
last 20 years
- Other developments eg
Riverlights
- Brief for Regeneration Fund
framed in discussion with
developers
- Addressing market failure
21. OFFICE DEVELOPMENTS
Early schemes funded
- Developments with
planning permission
- Site ownership
- Early starts possible
- Concentrating on office
schemes, and
commercial/mixed-use
23. PROCUREMENT OF DERBY’S LEISURE STRATEGY
Launch Event
Formal Market Sounding:
One to One Workshops
Project Refinement
OJEU Procurement
- 23 November 2010
- January 2011 (8 weeks)
- February 2011 (4 weeks)
- March 2011
24. REGENERATION FUND
Potential Funding Mechanisms:
– Equity investment JVs
– Debt finance
– rent guarantees
– Direct acquisitions/development
– Gap funding
25. REGENERATION FUND
- How to qualify?
- Thomas Lister role
- Swift application process
- Preliminary project assessment – 1 week
- Progression to outline application stage
26. REGENERATION FUND
- Outline application stage – 2 weeks
- Application form on Derby Regeneration
website www.derbyregenerationfund.co.uk
- Development appraisal
- Selected schemes move to full application
stage
27. REGENERATION FUND
- Full application – 2 weeks
- Full project appraisal including build
cost, specification and programme
- Recommendation to Council Members
28. REGENERATION FUND
- Role of Thomas Lister
- Role of Council and Partnership Team
- Investments based on Value for
Money and outputs
29. REGENERATION FUND
- Target outputs
- Private sector investment
- Jobs
- BREEAM excellence
- New build and redundant/under
utilised buildings
- Sustainable mixed-use developments
30. REGENERATION FUND
- Next Steps
- Derby Regeneration Website
www.derbyregenerationfund.co.uk
- Recommendations for first round of
investments to Cabinet in March 2011
31. REGENERATION FUND
When to apply?
- Now and ongoing until fund satisfied
- Pick up a “flyer”, available here
- The City Council Regeneration Team and
Thomas Lister are here today if you want
to see them
- See the web site
www.derbyregenerationfund.co.uk
Introduction to:
Leisure Strategy
Regeneration Fund
Set in context we want to give you two things today:
Detail on Regeneration Fund and how you can be involved
Stat of market testing the wider development and regeneration potential generated by our new Leisure Strategy.
The Council needs to build upon the Council’s recent achievements through Capital Programme
Roundhouse - here today
£50million partnership with Derby College
The Council’s own capital programme in the last 5 years has been over £300million.
We expect to continue to invest:
because we have to
because we need to lead in the Derby economy
Council’s recent achievements through Capital Programme:
QUAD - £8million
Council’s recent achievements through Capital Programme:
Connecting Derby - £40million - Completion March 2011
New Noel Baker Community and Language College and St Martin’s Special School
Start on site December 2010 - £37million
Plus Village Primary School - £7million
Building Schools for the Future
Derby Moor Community Sports College New build and part refurbishment Start on site January 2011 - £20million
Plus new Sinfin Community School - £17million
Council House
£34million new build and part refurbishment.
Subject to discussions with English Heritage! - £42million
Longbridge Weir Hydro Electricity Plant
£2million project
Start on site early 2011
Power for the Council House and the National Grid
Housing PFI
(Awaiting final approval from Treasury)
Start on site mid-2011 - £22million
Castleward Urban Village
Castleward – 30 Acres - £100million investment scheme
20 year partnership project
Circa 800 dwellings, new nursery and primary schools, community building, retail/commercial, active boulevard frontages
First Phase commencing Spring 2012, 140 units, 5 acres
Leisure Strategy
The Council’s catalogue of leisure buildings is becoming very tired.
Moorways
Survey of building stock and sporting facilities in 2009 identified
Deteriorating and ageing stock
Suffered from years of under-investment
Need for significant refurbishment or replacement
To ‘stand still’ would require £18m investment
Lack of regional facilities
Need to spend over £20m on repairs/refurbishment in coming years
Leisure Facility Strategy
Description of our conventional Leisure Strategy –
2 Hubs – Swimming Pool and Velodrome
2/3 Sites identified for each
Leisure Facility Strategy
Description of our conventional Leisure Strategy –
2 Hubs – Swimming Pool and Velodrome
2/3 Sites identified for each
Maps showing locations of hubs
The hubs we have identified are:
Velodrome
Network Rail land, Wyvern
Manor/Kingsway (HCA ownership)
Pride Park (Park & Ride site adjacent to stadium)
Swimming Pool Hub
Becket Well
DRI
Run through the ladder of opportunities to developers
Cabinet on 28 September approved the next stage of the Leisure Strategy as previously described, and the taking of our Leisure Strategy to a wider market. My officers have had discussions with some developers, but we now want to broaden the dialogue to get as wide a range of views as possible, before firming up on those development opportunities that we would like to proceed with.
Developers can consider our opportunities as a sort of ladder as follows:
Basic package would be for developers to present an analysis of one or more of the hub sites, with proposals for site assembly on one or two preferred sites.
Developers may also present proposals for the hub sites that have been ruled out in the Council’s initial exercise.
If none of these hub sites can be made to work financially, developers may produce proposals for other hub sites that the Council may not have previously considered.
Sites that are freed up by the development of the hubs can then be considered for other appropriate development.
Market testing – as described on previous slide – December to January 2011
Council refines the project – February 2011
OJEU procurement starts March 2011
Timescale depends on the refined project brief
This, or standard procurement, to see one facility in time for the Olympics 2012
Regeneration Fund - £10million
Last office development in the city centre was pre-1990.
We have had other developments eg QUAD, Riverlights.
Discussions with developers between our launch of the fund at MIPIM last March and September Cabinet Report enabled us to frame up our proposals.
Developers identified for us what is holding back developments, particularly those with planning permissions.
Derby is a very successful city.
The markets have failed nationally and internationally.
Lack of funding from banks and/or public regeneration funds.
Contraction of development and regeneration.
Derby city centre lacks supply of high grade office accommodation.
Office Developments with planning permission
Spoken to all developers with office planning permissions in the city centre.
These developers are now being invited to discuss schemes in more detail with our appointed agents, Thomas Lister.
Concentrating on:
establishing a new office core in city centre.
commercial and mixed-use development with linkages to the city centre.
redundant or under-utilised buildings back to economically beneficial use.
conserving and protecting heritage and public realm.
Handover to Richard Williams
Market testing – as described on previous slide – December to January 2011
Council refines the project – February 2011
OJEU procurement starts March 2011
Timescale depends on the refined project brief
This, or standard procurement, to see one facility in time for the Olympics 2012
Potential Funding Mechanisms:
Equity investment JVs
Rent guarantees
Direct acquisitions/development
Gap funding
Headline Targets:
20,000m2 (215,285 sq.ft) new quality offices in city centre
£75m private sector investment
500 skilled jobs
Sustainable development
“Suits” on city centre streets
How to qualify?
Contact to be made with Thomas Lister who are assisting the Council to process applications.
Brief details of the proposal will be required and the PPA will be completed by Thomas Lister and then appraised by the Council.
Chris Thomas and Rachel Lister are with us today.
A swift application process:
Preliminary Project Assessment – decision 1 week from receipt of information from applicant
Successful applicants will be asked to progress to the Outline Application stage
Outline Application – decision 2 weeks from receipt of full information from applicant.
An Outline Application Form will be able to be downloaded from the secure Derby Regeneration Website www.derbyregenerationfund.co.uk
The information required will include a development appraisal.
Information will be processed and meetings held with the applicants.
Those schemes considered appropriate will then move to Full Application Stage.
Full Application – decision 2 weeks from receipt of information from applicant
The most detailed information required to enable the Council to assess to project
this will include full build cost, specification and programme etc.
If the project meets the requirements of the Fund, the opportunity will be put to Council Members
Cabinet Approval sought for funds to be distributed
Throughout the processes Thomas Lister and members of the City Council Team will be available to assist and guide the applicants/potential applicants.
Meetings will take place with the applicants and assessment/ feedback will be given at every stage
Co-operation is key.
Investment decisions will be made based upon value for money from outputs generated by individual projects and return on investment made.
Target Outputs – (as Adam briefly described earlier)
New quality office accommodation to establish an office core in the city centre
Private sector investment
Create and safeguard jobs
BREEAM excellent, increased environmental sustainability
Redundant and under utilised buildings back to economic beneficial use
Promote sustainable mixed use developments with linkages to the City Centre area
Conserving and protecting Heritage assets and Public Realm.
We will give priority to development schemes where there is planning permission in place and the promoter has ownership or control of the site.
This is not a phased programme – it’s a continuous process.
Following this launch the Derby Regeneration Website will be on line and will set out the processes.
Interested parties should make enquiries and speak to Thomas Lister.
The intention is to consider all those initial schemes received in the first instance and prepare a report for the beginning of January 2011.
Because of EU procurement rules initially we will be seeking projects to come forward that already benefit from planning consent.
There are EU rules that govern how a Council may invest in a project and we invite expressions of interest from all types of project what ever their status and we will assess on an individual basis in compliance with EU regulations and provide guidance where appropriate.
Please speak to us.
Those successful to progress to a decision by the Council by March 2011.
When to apply?
Now and ongoing until fund satisfied
Pick up a “flyer”, available here
The City Council RegenerationTeam and Thomas Lister are here today if you want to see them.