Bexhill Business Mall
- Capital Investment - East Sussex, Growing Places Fund, More than £2m
GPF project delivered
Project Completion Date
GPF funding will be used to support the delivery of a new flagship Business Mall, capitalising upon the employment land supply that will be unlocked as a result of the construction of the Bexhill Hastings Link Road. The new Bexhill Business Mall will provide a range of flexible and serviced office and Research and Development/workshop units to create opportunities for both local business start-ups and expansions as well as inward investment to the area. The Bexhill Business Mall will provide 2,490 square metres of lettable floor space, with the potential to directly support in the region of 300 new jobs and up to 60 small high growth businesses.
The Bexhill Business Mall will include a central atrium which will serve as an informal meeting, networking and breakout area. Provision of this space is critical for maximising innovation, collaboration and networking opportunities between companies often leading directly to the creation of new company ventures. The central atrium will also be utilised for business functions and events, with a large cinema-type projector screen and a ‘state of the art’ 3D printing machine to enable businesses to develop and model new products and prototypes.
The project is aiming to respond to a gap in the local commercial property market for this type of property product. Demand at the new Bexhill Business Mall is anticipated from both existing and start-up businesses as well as small high growth businesses relocating from outside of East Sussex.
Capital Programme delivery update
Take a look at our update on the delivery of the Local Growth Fund (LGF) and Growing Places Fund (GPF) capital programmes.
Growing Places Fund
The Growing Places Fund (GPF) was established by the Ministry for Housing, Communities and Local Government (formerly the Department for Communities and Local Government) and the Department for Transport (DfT) in 2011. The aim of this funding is to unlock economic growth, create jobs and ‘kick-start’ house building at stalled development sites.
The GPF was made available to SELEP for investment as a recyclable loan scheme. Loan repayment schedules for each project are agreed within the credit agreement which is put in place at the start of the project. Repayments against these projects are returned to the central pot for reallocation to new projects.
Through the GPF Round 1 awards, a total of £47.459m GPF was awarded to 13 capital infrastructure projects across the South East LEP area. Initial repayments are now being made by some of the Round 1 projects which has allowed funding totalling £9.317m to be awarded to a further 8 projects through GPF Round 2.