The contract has been awarded by Derby County Council to Derbyshire based Bowmer + Kirkland to deliver construction.
The 3,500 capacity entertainment centre will be built on the site of the former Pennine Hotel, Laurie House offices, multi-storey car park, Pink Coconut nightclub in Colyear Street and Padley House in Becket Street.
It will be owned by Derby City Council and leased to and operated by ASM Global. Bowmer + Kirkland took over the site on 5 June and the project is expected to be complete by January 2025 after which it will be handed over to ASM Global.
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When complete the space will be capable of holding events such as stand-up comedy and concerts. It is hoped to bring an additional 250,000 visitors a year to Derby as well as creating over 200 jobs.
Commenting on the development Christian Parnell, Bowmer + Kirkland Regional Director,said: "We are absolutely delighted to have been appointed to build Derby's exciting new entertainment and events venue. 2023 marks Bowmer + Kirkland’s first 100 years and it is fitting that we are beginning work on a major scheme which will bring life back to a once vibrant and prominent area of the city.
"We are looking forward to working with St James Securities, Derby City Council and ASM Global to deliver this landmark venue for the people of Derby and Derbyshire."
Reflecting on the contract, Councillor Baggy Shanker, Leader of Derby City Council said:"This is an important step forward in finally delivering the new venue Derby needs, which will deliver real, tangible benefits for businesses, residents and visitors.
"Creating a city centre for all is one of our priorities and this new and flexible space is a key part of bringing vibrancy and pride back to our city centre."
