JOHN FORKIN (JF): The title of this debate is Derby's Regeneration – Let the Next Phase Begin. There is a sense that phase one of the city's regeneration is coming to an end this year. The opening of Westfield was the starting whistle for massive investment in the city. Now it is time to change gear and move on to the next phase. I'd like to begin by asking Peter Richardson, as chairman of Derby Cityscape, to talk about how far the city has come.

PETER RICHARDSON (PR): When I came to Derby in 1997 my observation was that the city was some way behind its counterparts in terms of its regeneration. Then in the late 1990s and the early part of the 21st century, the public and private sectors started to work more closely. This formed the foundations for the establishment of Derby Cityscape in 2003. A year or two after, the master plan was launched which set out the structure for the city's regeneration. The city, over the last five years, has changed dramatically. It has energy. It's alive in the mornings and alive in the evenings. It's a vibrant and much more attractive city, set in a beautiful county. Many people come to Derbyshire to see its countryside, but Derby was never part of that journey. Today we have the Cathedral Quarter, Westfield and a World Heritage Site. We are now part of their journey. The first phase was a relatively easy thing to achieve because it happened when the economy was booming. There are now several factors to deal with such as political instability, money and confidence. We have had a deep recession. There are still questions about a double-dip in the economy. But Derby needs to use the situation to its advantage. While other cities may be withdrawing and sticking with what they've got, Derby should continue to raise its profile as a vibrant city. A partnership approach is needed to assist with the second phase of regeneration. The city has come a long way. Ten years ago I would never have believed that the Queen would come to dine at one of our city centre hotels. This is a massive tick in the box for the city. We need to continue this momentum. Confidence is absolutely essential in business. The city is undergoing transition. The city council has appointed a new chief executive in Adam [Wilkinson] and has a new team around him. The economic situation at the moment is scary. But in terms of Derby I don't see it like that. There is a massive opportunity to build on what we have achieved so far. Regeneration has got to go on.

JF: Tim, you have come from a different continent to work in Derby. What do you think about the city and what do you think we should be doing next?

TIM HINCHEY (TH): We're in the entertainment business, which requires creating a multitude of partnerships within the community. Derby County is not only a distinguished sports team, we also see the club as a community asset. What has been really unique for us to see in Derby is how close the public and private sectors work together. I've worked in a number of cities all over America and they do not do this. Derby seems to have one voice. No matter who you talk to everyone seems to get behind the same message. It's why we wanted to be in Derby. What does the city need? Well, we recognise that not everyone is a football fan. That's why we are working hard to bring more music and arts events to Pride Park. We are trying to bring in more conferences.

JF: What about you, Peter?

PETER SWALLOW (PS): Derby has done a good job in raising its profile. The next job is delivering the next stage of regeneration. The Regeneration Fund that has been established by Derby City Council is a good idea. The private sector working in partnership with the city council is the way forward. In the commercial property sector we are facing a triple whammy because the banks are nowhere to be seen, there is the issue of Empty Property Rates and there is uncertainty over the role of the East Midlands Development Agency. Commercial property drives new employment. With existing stock, Empty Property Rates becomes an issue. Developers do not want their property standing empty and as a result tenants can negotiate a better rent deal. But this means the developer has less money to fund new products.

JF: Derby has one million square feet of office space ready to be built. If, as you say, Peter, the banks have disappeared, what impact will this have on our next phase of regeneration? Are we whistling in the wind?

PS: I wouldn't say we're whistling in the wind. There are three banks in the market but none of them will back a fully speculative scheme, despite the pent-up demand for grade A office space.

NICK HOSKING (NH): The city schemes are large-scale. The problem we have is that there's still three or four acres of land that is still being developed on Pride Park, which can be offered cheaper than the city centre schemes.

RUSSELL RIGBY (RR): For me, the key thing is confidence. There is real demand. It's important to bring in bright, young businesses to Derby. More than 10 years ago companies such as Core Design and Interfleet were coming in. The public had not heard of them but they grew into very large concerns.

NH: I think if one of the large schemes had started before the credit crunch then it would have been fine because there is demand out there.

RR: Filling up properties that have stood empty is important for the market. For example, the NHS taking a large amount of space at Cardinal Square should help with the city's redevelopment.

NICK EBBS (NE): I think in the past Derby has been guilty of going for quantity, not quality. In developments like the Roundhouse and Quad you do have quality. But in other areas design quality has been lacking. Highly educated people are attracted to quality of life.

JF: If I could just bring Adam in at this point. Could you give us your reflections on how you see the city council playing a role as a catalyst for the next phase of regeneration?

ADAM WILKINSON (AW): We've sat around this table often and concluded that the city council needs one or two office blocks to come out of the ground to attract inward migration. At MIPIM we had an interesting meeting with landowners and asked why no new offices had been built in Derby over the last 20 to 30 years. It was agreed that there was demand for new office space but they were not confident enough to build it. The "build and they will come" risk needs to be taken. We have the £10m Regeneration Fund to support this. And we are investing £50m in our new leisure strategy, which will include a number of developments and not in easy sites. We have an ambition to improve the city's cultural offer. Improving things like education, cleaner streets, lower crime, it is all part of the Derby offer and influences people's decision to live and work here. In total we are spending £400m over the next three years on new buildings and infrastructure. There will also be a review of the city's unique selling point (USP).

JF: I'd like to get some views from the housing and retail sectors from Chris and Simon. Chris?

CHRIS NEVE (CN): To generate demand for new housing the city has to have a really strong USP. Housing is about the quality of the area rather than the house itself. This includes things like education, transport and a sense of place. Derby is an incredibly well supported city. The football team and events like the Darley Park Concert, Race for Life and the 10K are all fabulously well supported. There is no major festival in the Midlands. Derby should have its own. This would help put Derby on the map.

SIMON INGHAM (SI): From a retail perspective it is important for a city to have a point of difference and this is what the Cathedral Quarter offers. The smaller businesses help to do this. We should be encouraging more small businesses and achieve a better mix. Should we be offering incentives to small businesses to set up in the city centre?

STEVE HALL (SH): It's right to ask where the momentum will come from. In the past the city has enjoyed success because it had a clear plan, which people could understand. You could actually see what was happening by counting the number of cranes. That phase is now at an end. I don't think anyone is sure what the next phase is. We need to decide what it is and then rally around it. It also needs to be something that can be delivered. People need to believe that its leaders know the direction the city is going in. They need to be kept informed otherwise they will think that the city has run out of steam. This has happened in Derby too many times previously. They want to know where we're going and track the progress. There are some quick wins to be had. The Wilson Bowden site on Full Street is an example. At the moment it's an absolute eyesore. It looks like a shanty town. We shouldn't allow that to happen. It should be tackled and sorted. If people are going to believe our plan then things like this should be addressed.

MARTIN JINKS (MJ): It's a good point. Derby has done well to go from heavy industry to a hi-tech city. We're going through a pause. But the same can be said for the whole world so I don't think we should be beating ourselves up too much. Now we have got some strong leadership at the city council I'd like to see us tap into that common support and help our businesses.

JF: Just going back to Nick's point about quality. Do any of you feel the same about that?

PR: Cathedral Green and the bridge across the Derwent are well-used spaces and I think that's why the Wilson Bowden site offends us so much. I agree with Steve's point that you need to know what you're going for. The public do need to know the next statement of intent.

SI: What starts it though? What's the catalyst?

PS: The city needs the bigger buildings. They tend to draw in the smaller businesses. The big businesses act as a catalyst because they need local goods and services.

AW: Just to pick up on Steve's point, the first master plan included developments that have now stalled. We need to reinvent the master plan because the world has changed. Coming up with a new USP now is perfect timing. We will not be asking for people to tell us what's wrong with Derby, but what they would like to see.

SH: Is there a time frame for this?

AW: Between now and Christmas we will be running a "Three Wish" campaign, which will ask people what Derby should look like.

SI: Once we're all signed up to the USP how do we generate the momentum? Who leads it?

AW: The city boards within the city partnership structure will be accountable for delivery.

NE: I'm actually quite confident about the future. There is new leadership and a new energy. Derby is an enterprising city. Derby residents believe in the city. And there are opportunities.