Nottingham council injects £50m to kickstart Broadmarsh scheme

Aaron Morby 4 months ago
Share

Nottingham City Council has agreed on a £50m cash injection to allow the redevelopment of the Broadmarsh shopping centre finally to start.

The funding green light allowed shopping centre developer intu’s board to agree to go ahead, which now means contracts can be finalised.

Sir Robert McAlpine is preferred bidder for the £150m main shopping centre revamp with several contractors in the bidding to redevelop the adjacent car park site with a new central library and bus station.

The line-up of remaining bidders for the £50m project includes Bowmer & Kirkland and G F Tomlinson.

Approval to proceed with the shopping centre and car park redevelopments are essential parts of the Broadmarsh regeneration programme of the southern city centre, which will see £250m invested in the area and see works begin early next year.

Broadmarsh Regeneration plan

  • Redevelop intu Broadmarsh into a modern retail and leisure destination
  • Create a pedestrianised and pedestrian friendly area between intu Broadmarsh and Nottingham Station
  • Provide a brand new bus station and car park
  • Create a state of the art Central Library
  • Transform Nottingham Castle into a world-class tourist destination
  • Develop a new Nottingham College building.

The intu Broadmarsh and Car Park developments have been funded by significant private sector investment, grants and future income from these developments.

Councillor Jon Collins, Leader of the City Council, said: “This is the latest step in turning our proposals for the Broadmarsh area into reality, and approval means that subject to contracts being signed, works in the area can start very quickly and hopefully very soon.

“The City Council and our partners are investing heavily in this redevelopment, which is inspiring private sector investment around the area, at Unity Square, City Buildings and the Island Site to name a few, meaning there will be better opportunities for those who live and work here and more prosperity for local people.

“The money the council is investing in this is not council tax – we have secured external funding and loans, supported by increasing car parking, advertising and rental income so council services aren’t affected.”

Latest news

Pay row set to escalate on HS2 enabling works site

Dispute set to intensify over rates paid by labour supplier
3 days ago

VINCI starts work on new £100m Birmingham hospital

Contractor gets underway on three-year build programme
2 days ago

Four civils firms scoop £2.6bn flood and coastal framework

Kier breaks into Environment Agency preferred contractors list
3 days ago

Costain making engineers redundant at tech centre

Contractor cutting jobs at technology division it bought for £17m in 2016
3 days ago

Dozen firms win £500m City of London deal

Morgan Sindall, Osborne and Speller Metcalfe among winners
3 days ago

New £3m fund to improve construction procurement

Companies invited to bid for cash grants in CITB-led efficiency drive
3 days ago

Green light for vast Nottingham Boots Island scheme

Developer Conygar plans to build a 2m sq ft mixed-use scheme
3 days ago

Goldman Sachs bankrolls Brum’s tallest resi project

Builder Sisk can now start work on 42-storey Broad Street skyscraper
3 days ago

SME contractors agree 2.75% pay deal for workers

Annual pay increase will see hourly craft rates rise to £12.79
3 days ago

Boost your online presence – join the Enquirer Directory

New site for suppliers and buyers showcases products, services and latest stories
12 months ago

Lakehouse subbie goes after Sureserve for cash

Specialist wins adjudication award after contractor goes bust
4 days ago

Firms on alert for M4 Newport £185m enabling works

Bidders day planned ahead of July invitation to tender
4 days ago

Robertson hires Laing O’Rourke infrastructure ops director

Bryan Glass will head Robertson's civil engineering business in Scotland
4 days ago

Wates starts £24m Shoreham flood defence

Enabling works to pave way for 540-home Free Wharf scheme
4 days ago

£400m Eastern Highways Framework up for renewal

Essex County Council to invite bids for third generation framework in June
4 days ago

Countryside chief operating officer exits

Rebecca Worthington steps down as Countryside reports strong first half trading
4 days ago

Willmott Dixon chalks up £20m Liverpool nursing school

Liverpool John Moores University Tithebarn building and library to be extended and refurbished
4 days ago

Boy, 12, falls from scaffold ladder on poorly guarded site

Ten metre fall inflicts life-changing injuries on boy
4 days ago

Galliford Try profit warning sparks construction arm review

Firm warns profits will be £40m below forecasts after Queensferry Crossing hit
5 days ago

Morgan Sindall boosts north west leadership team

Growth drive sees new directors appointed in Manchester and Liverpool
5 days ago

Walter Lilly wins £55m London medical HQ project

Renew Group building specialist signs preconstruction services agreement
5 days ago

Autumn start for Mount Anvil’s largest ever scheme

Green light for 800-home Royal Eden Docks scheme in East London
5 days ago

Laing O’Rourke strategy boss joins Royal BAM

Simon Finnie steered strategy at Laing O'Rourke and Kier over six years
5 days ago

New Structure Tone division lands first major deal

Detail & Build team bags fit-out for new owners of Heron House
5 days ago

New Kier chief sets out to streamline £4bn group

Andrew Davies launches strategic review to simplify business and improve cash flow
6 days ago

McAleer & Rushe closes in on £400m turnover

Hotel specialist delivers further growth and £17m pre-tax profit
6 days ago

Construction’s most considerate sites revealed

Best performing contractors confirmed: Full details
6 days ago

Infrastructure clients lead drive to eliminate site accidents

Major push to end injuries and illness caused by seven key site risks
6 days ago

Rogue roofer found guilty of fraud

Court hears "abysmal" repairs charged at £38,000 were worth just £250
1 week ago

Engie names new UK chief executive

Nicola Lovett takes helm at UK and Ireland business in May
5 days ago

Contractor services