A £3.3million project which received £500,000 via the D2N2 Local Enterprise Partnership (LEP) is now underway.
Castlehouse Construction of Leeds has begun work onsite (pictured) at The Sherwood Energy Village, near Ollerton, Nottinghamshire; to develop 32,000 square feet of high-quality commercial floor space, for business and industrial use. This will provide ten business units, of between 2,000 and 7,500 sq ft in size.
Funding towards the project, of £500,000, was approved by the D2N2 Infrastructure and Investment Board (IIB) in September (2017).
D2N2 is the private sector-led Local Enterprise Partnership (LEP) of business, local authorities, skills and training providers, and community and voluntary services which promotes economic and jobs growth across Derby, Derbyshire, Nottingham and Nottinghamshire. The IIB approves capital funding from D2N2’s substantial Local Growth Fund allocation, from Government, to jointly invest in infrastructure projects seen as necessary for economic growth (for example, roads, and skills and employment sites).
The £3.3m project at the Sherwood Energy Village – which aims to deliver commercial development in a sustainable, environmentally responsible way in the former coalfields area – is also being funded by £2.8m from CRT Property Investments Limited (a subsidiary of the Coalfields Regeneration Trust).
Planning permission for the scheme was granted in April 2016. The work is expected to be completed by spring 2018, ready for businesses to move in.
Estimated benefits set out by the project plan, presented to IIB board members, included:
- 38 jobs to be created;
- 26 jobs safeguarded;
- creating 32,000 sq ft of high-quality commercial floor space;
- 2 acres of land brought into use.
Mark Spencer, MP for Sherwood, visited the site for the groundbreaking event to show his support for the ambitious project.
Mr Spencer said: “I am clear that this is exactly the kind of project that we need if we are going to truly transform people’s lives for the better. I know that local businesses are onboard, and I am certain that this project will provide the investment and opportunities required to help the local economy move forward.”
For more information on how the D2N2 LEP is using its Local Growth Fund for projects which benefit its area’s economy, see the D2N2 website at link www.d2n2lep.org/Local-Growth-Fund
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