The Growing Places Fund investment will be used to return long-term empty commercial properties back to use, for residential, alternative commercial or mixed-use purposes. The project will focus on secondary retail and other commercial premises which have been significantly impacted by changing consumer demand, the impact of the pandemic and which may have been impacted by larger regeneration schemes.

The project will:

• support economic growth through new commercial activity: attracting new business rates, and creating and safeguarding jobs;
• increase the number of new homes available as a result of mixed-use development: generating new council tax receipts and attracting Government New Homes Bonus;
• support wider regeneration, in particular assisting in improving the vitality and viability of existing commercial areas, improving the quality of the local environment, complementing wider regeneration activities and supporting community safety and cohesion.

This will be achieved through the provision of short-term secured loans to bring long-term empty commercial properties back into use.

The No Use Empty South Essex project also received Getting Building Fund investment totalling £1.2m. Further details can be found here.

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.