Acquisition of land and associated construction works relating to proposed Becketwell Venue, Colyear Street, Derby

This notice is to advise that Derby City Council ("the Council") intends to enter into contractual arrangements with SJS (4) Limited and St James Securities Group for the development of a performance venue. The land which is to be the site of the performance venue is owned mainly by SJS(4) Limited and the balance by third parties and which will be purchased by the Council after SJS has satisfied conditions requiring SJS(4) Limited to secure planning permission for the development of the venue, achieve vacant possession and identify an operator for the venue and enter into an agreement for lease with that operator. The Council will also enter into a forward funding agreement under which the Council will provide funding for SJS(4) Limited to carry out demolition and construction at the site and St James Securities Group will act as Guarantor for the obligations of SJS(4) Limited.