A 3,500-capacity venue could be constructed in Derby, creating 200 jobs, according to new plans. A site in the Becketwell area has been earmarked for the scheme by developer St James Securities and Derby City Council.

The new entertainment and conference venue would be located on the site of the former Pink Coconut nightclub.

The applicants have said it is anticipated that the venue would hold hundreds of cultural and commercial events each year and attract an additional quarter of a million visitors to Derby. The scheme would generate more than £10m per year for the area, they added.

“We are working together with experienced commercial sector partners to put the best venue option on the table. This is about creating a vibrant, thriving city centre, and rejuvenating areas that have seen a decline. A new venue like this will significantly aid our recovery efforts and boost business confidence by creating hundreds of jobs, putting millions into the local economy, and make a big contribution to Derby’s future prosperity,” said Deputy council leader Cllr Matthew Homes.

The new music, entertainment and conference events venue would be housed in a purpose-built facility. It would be a fully flexible, scalable space, with a capacity of up to 3,500, with secondary space up to 400 capacity.

The project, if panning permission is granted, would be delivered by St James Securities at a fixed priced to the council with the developer securing a national operator as tenant for at least 25 years.

“We are tremendously excited to be working with Derby City Council on this ambitious scheme, which is set to bring an outstanding, modern performance venue to the city. We strongly believe that a new purpose-built city centre venue is the right way to deliver a new performance venue for Derby and are confident that the best location for that venue is as a key part of the Becketwell scheme,” commented Paul Morris, director of St James Securities.

“Once the successful operator has been selected, they will help to inform the design, capacity and layout of the building and the mix of popular and mainstream shows, performances and events. We have created a great scheme which will fill a significant gap in the city cultural landscape.”

The development team at St James Securities has already had “strong interest” shown from an excellent range of leading operators.