DERBYSHIRE ECONOMIC REVIEW: RUSSELL RIGBY, RIGBY & CO
As Derby embarks on what is set to be its greatest period of growth, we ask Russell Rigby, Managing Director at Rigby and Co to share his unrivalled knowledge of the key economic drivers that are set to shape the future of Derby.
Whilst Westfield’s £300million development to the south of the city centre is quite rightly dominating conversation (and the skyline), attention is now turning to a number of potentially exciting schemes proposed for the north side of the city centre. To give the area a sense of belonging and branding, it is now named The Cathedral Quarter.
This is home to Derby’s independent shopping area, together with complementary food and drink outlets and some of the best cultural facilities in the city. Somewhere in the order of £100million worth of investment is likely to pour into this area over the next few years. A quick headline of projects includes Derby College’s extension to its successful Joseph Wright campus on Cathedral Road, QUAD, the city’s £10million contemporary visual arts and media centre, two major hotel schemes, one for Jury’s Inn on King Street and the other for Finesse Hotels on St Mary’s Gate and the race to bring forward the first Grade A new office development in this part of the city centre for many years.
Reassuringly, the occupier market is now starting to talk with more confidence about investing back in the city centre. Pride Park has been phenomenally successful but it can’t last forever – I am certainly aware of several 10,000 sq ft plus requirements that should now be captured and catered for within the Cathedral Quarter, thus ensuring the success of the first one or two schemes that feature before the end of this year.
