Projects

Projects Map

Priory Quarter Phase 3

Categories

Approval Status

Fully Approved

Delivery Status

GPF project delivered

Project Completion Date

To provide 2,323 sqm (25,000 sqft) of high quality office premises at Priory Quarter in Hastings town centre to meet the expressed needs of private sector employers to expand their operation in the town with the potential to create over 400 jobs.

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.

SELEP Capital Investment Programme

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.

Funding value: £7.0m
Total Project cost: £7.5m
Return to Capital Investment