Derby City Council has approved a £500,000 loan to regeneration firm London and Continental Railways (LCR), which is seeking to purchase the original headquarters of Midland Railway.
Built in the early 1870s, Midland House is currently owned by the Department for Levelling Up, Housing and Communities which has declared it ‘surplus to requirements’.
The council said it believes that the acquisition could ‘spark significant regeneration of the city’s Railway Conservation Area'.
‘The opportunity to support the purchase of Midland House, an important building in close proximity to the station, is really good news. Any step towards the improvement of the area around the railway station is most welcome,’ said Cllr Chris Poulter, leader of Derby City Council.
‘This is another example of how we have supported regeneration development in the city. The investment should tie in well with other improvements expected, through developments around main stations within the HS2 programme.’
LCR is wholly owned by the Department for Transport and works in partnership with local authorities, Network Rail and Homes England.
This article first appeared on localgov.co.uk
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