5.5 C
West Bridgford
Monday, January 20, 2025

Plans to keep old Broad Marsh ‘frame’ scrapped due to investor fears

“Developers are a bit hesitant on that because who would insure you for that?"

Plans to keep much of Nottingham’s old Broadmarsh Centre frame as part of its regeneration have been abandoned after developers said they weren’t prepared to back it due to construction risks.

Demolition work will soon begin on the rest of the site after the East Midlands Combined County Authority, headed by regional Labour mayor Claire Ward, agreed on Monday (December 16) to give the council up to £3.4m to fund the project.

A new vision for the area, which is one of the largest development spaces in any city centre in Europe, was first unveiled by Nottingham City Council in 2021.

Several experts, including Sir Tim Smit of the Eden Project and urban designer Thomas Heatherwick, helped create the plan following a public consultation that amassed more than 3,000 responses.

View3 Final B scaled 1

- Advertisement -

Heatherwick’s original vision was to retain much of the shopping centre’s old frame, from where the Green Heart now stands to Middle Hill.

However, the leader of the council, Councillor Neghat Khan says that the vision was changed following concerns from potential developers.

“Initially in the vision it was about keeping it all, but we were looking at developers and the interest around that, and there are a lot of risks to it because it is a very old frame,” she said.

“Developers are a bit hesitant on that because who would insure you for that?

“This today, getting it past the initial stage to a business case, gives more certainty. It will actually escalate the development.

“Hopefully by the end of the financial year we will have some good news about who is taking on that site. We will have housing on there, leisure, business, office space – there might be some student accommodation.”

 

In May, the council unveiled its new masterplan for the site, which proposed retaining a smaller section of the frame instead.

The council first reclaimed the site following the 2020 collapse of the Broadmarsh Shopping Centre’s former owner, intu, which had been in the process of regenerating it.

Construction firm Willmott Dixon finished demolishing a section of the shopping centre in 2022, before work on the Green Heart city park began.

While the Green Heart opened in September, there have been several setbacks in regenerating the wider site.

IMG 5512 scaled
© westbridgfordwire.com

The Labour-run authority was denied £20m in Levelling Up funds on three occasions by the previous Conservative Government.

Then, in November last year, the council declared effective bankruptcy, and all new spending had to stop.

Mayor Claire Ward said the funding from her authority will help kick-start momentum to demolish a majority of the remaining frame, describing it as an “eyesore”.

“When the council applied for funding in the past it was turned down by Westminster and Whitehall – no understanding of what the real challenges are for places like the Broadmarsh and other areas, and what they need,” she added.

Cllr Neghat Khan at the Green Heart city park LDRS
Cllr Neghat Khan at the Green Heart city park

“What we can do here by making a decision to have investment into these types of projects is actually delivering the changes people want to see, and I think that is what is different as a result of devolution.”

Follow The Wire on TikTok, Facebook, X, Instagram. Send your story to newsdesk@westbridgfordwire.com or on 0115 772 0418

Categories:
 

 

Latest