The much-anticipated redevelopment of intu Broadmarsh and the new Broadmarsh Car Park development took a step closer today, after councillors gave the schemes the green light.
The decision to proceed was agreed by councillors at the City Council’s Executive Board meeting. intu’s board have also agreed to go ahead, which now means contracts can be finalised.
The Broadmarsh regeneration programme will include a transformed intu Broadmarsh, new Central Library, a new bus station and retail units.
This 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. This will:
- 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 momentum of transformation generated in the southern city centre is also bringing in significant private investment at Unity Square, City Buildings, Station Street and Carrington Street.
The intu Broadmarsh and Car Park developments have been funded by significant private sector investment, grants and future income from these developments.
The regeneration programme will return Nottingham into the top six of retail centres in the country, and will transform the face of the southern city centre. In the process this will boost the local economy, bring more jobs to the city and attract more visitors and extra spending to the city each year.
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 today means that subject to contracts being signed, works in the area can start very quickly and hopefully very soon.
“The people of Nottingham have shown a lot of patience by waiting for the forthcoming redevelopment of the area, and it’s about to be rewarded. This redevelopment is for them and the future of this city – it will bring jobs, growth, more visitors and greater confidence in the city centre.
“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.”