Coast to Capital
Delivering Economic Growth
Growing Places Fund
Growing Places Fund
The Growing Places Fund is a government programme to provide funding to
unlock stalled infrastructure and building projects, in order to create
economic growth.
The funding is managed by Coast to Capital and allocated to projects following
agreed criteria.
•
•
•
Central government have allocated Coast to Capital £23 million
To date the board has allocated £14 million towards five projects
A total value in excess of £173m and will potentially provide over 2000 jobs.
Capital is provided on a loan basis to ensure that the fund can be recycled and
used on further, future projects.
First Five Projects
In April the Coast to Capital Board announced the first successful
projects to be awarded significant funding from the Growing Places
Fund:
•Airfield Park, Bognor Regis
•Brighton i360
•Caterham Fast Fibre Hubs
•Malling Brooks, Lewes
•Ruskin Square, Croydon
Airfield Park, Bognor Regis
An exciting proposal which will deliver a major
part of Arun District Council’s
enterprise@BognorRegis vision for a strategic
development at North West Bognor Regis.
The proposal is for the redevelopment of the
former Lec Airfield and adjacent land with
mixed use employment-led development.
The £6m of GPF funding will be used to fund
infrastructure works required to unlock around
100,000 sq ft of business space and bring
additional investment to create up to 800 jobs.
Brighton i360
A private sector led £35m visitor attraction
developed by the that delivered the London
Eye.
The design was given unanimous planning
approval in 2006 and will be built close to the
West Pier site.
£3m of GPF funding will provide the final catalyst to
complete the seafront development strategy and
therefore contribute to the wider economic
resilience and development of the city.
It is recognised that the i360 will create up to 400
jobs, and due to it being iconic in scale and design
will raise the profile of the city and the region on
the national and international business, convention
and tourism stage and attract upwards of 800,000
visits per year.
Caterham Fast Fibre Hubs
A proposal put forward by a community based
partnership known as ABC – A Better Caterham. The
project is to create ultra fast internet connections, to
encourage new digitally based enterprise and assist
existing companies, the Surrey town of Caterham.
The project will take broadband via fibre to those
connected to the hubs at rates of up to 100 Mbites
A network of hubs will start at three key locations
around the town with further sites under discussion.
£0.163m of GPF funding will enable the town to create
a strategic resource and has encouraged an innovative
development that could be a model for others to adopt.
If the hubs and the businesses accessing them stimulate
the anticipated new business, ideas and growth,
additional hubs and uses for available commercial space
in the town is anticipated. 50+ jobs are also intended to
be created with this proposal.
Malling Brooks, Lewes
Part of the two phase regeneration of Lewes
town centre.
The Growing Places Fund proposal concentrates
on phase 1 which is the development of fit for
purpose industrial premises on what is currently
a fallow site in Malling Brooks, off Southdowns
Road, Lewes.
The scheme will include the relocation of at least
one local business that might otherwise be
forced to move outside Lewes to find suitable
accommodation.
The £1.2m of GPF funding acts as a catalyst in respect of meeting the considerable costs of
associated infrastructure works required to progress the Phase 1 scheme.
On completion, the development will enable the second planned phase of investment in a mixed use
redevelopment of the North Street Quarter, with around 200 jobs to be created.
Ruskin Square, Croydon
A nine acre mixed use site adjacent to East Croydon Station. The proposal is to provide 1 million sq ft
of grade 'A' office space and 550 new homes next to a major transport hub and will create a new
business and residential quarter at the 'front door' to Croydon and lead the regeneration of the
whole of Croydon's central district.
The outline planning consent complements the
East Croydon Masterplan, led by Croydon Council,
which will deliver £20m of improvements to the
Station, including a new bridge, that will be
delivered in mid 2013 providing a second Station
entrance.
The £4m GPF funding is expected to unlock the
first phase of 170 residential units and the
associated works for the new route between the
town centre and East Croydon Station and it is
intended that approx. 400+ construction jobs and
350 permanent jobs are likely to be created.
Further Investments
Coast to Capital are seeking further investment opportunities to unlock infrastructure and
development.
The project must be:
•Able to contribute to Coast to Capital’s strategic goals for employment growth
•In the Coast to Capital area.
•Unable to go ahead without the investment from the Growing Places Fund
•Ready to commence quickly
•Able to repay with a clear mechanism
•In need of £250,000 or more (special consideration may be given to broadband projects)
•Agreed with the local area partnership
•Environmentally sustainable
Contact Us
For more details on the Growing Places Fund
contact Emma Davies
emma.davies@coast2capital.org.uk