Becketwell makes £151m case to be home of Great British Railways
A bid to make a £200m Derby regeneration scheme the headquarters of a government-backed public rail venture has been boosted by an economic assessment which claims it ‘significantly outperforms’ a rival building in the city.
Earlier this year, Network Rail narrowed down its options for the new home of Great British Railways to two buildings in Derby; Midland house, an existing railway-owned building near the station, and a purpose-built home in Becketwell – a £200m city centre regeneration scheme.
St James Securities, the firm behind the Becketwell project, have commissioned an assessment which shows their bid would see £151 million in economic value brought into the city, while supporting more than 1,200 jobs.
The report, prepared by CBRE, highlights the transformational potential of the Becketwell scheme, with the proposed 3 Springwell Square development delivering between 855 and 1,244 full-time equivalent jobs, compared with 372 at Midland House – an additional 483 to 872 jobs for the city and wider region.
According to figures in the report, Becketwell could generate £107m to £151m in Gross Value Added (GVA) during construction and operation, compared with £27m for Midland House.
Paul Morris, development director at St James Securities, said: “This assessment clearly demonstrates the scale of opportunity that Becketwell represents, not just for Great British Railways, but for Derby and the wider region.
“This is about much more than creating a headquarters building. It is about creating jobs, driving economic growth, and bringing long-term confidence back into the city centre.
“We are incredibly encouraged by the level of support we are receiving from leading stakeholders across the city. It reflects a shared recognition that Becketwell offers something genuinely transformative – not just for GBR, but for Derby’s long-term future.”
The new Springwell Square development could become the purpose-built home of GBR. Credit: SJS
The proposed 140,000 sq ft headquarters building would create the foundations of a wider ‘Derby Rail Campus’ for companies looking to co-locate with GBR, according to St James Securities, with plans to bring together the 17 organisations that will form GBR within a single, integrated, and future-ready workspace.
Modelling commissioned for the report shows footfall could also increase by around 10% in the city centre when GBR takes up residence.
Baggy Shanker MP, Derby South MP and Member of the Transport Select Committee, added: “Great British Railways will bring workers, visitors, and national attention to Derby. We should put that footfall where it will count.
“Becketwell means people coming into the city centre, spending money with local businesses and adding life to the area throughout the working week.
“Derby is the home of rail. This is our chance to make sure GBR is not tucked away, but right where it can bring the most value to the city.”
The final decision on the GBR HQ location is expected before the end of 2026.
