Welsh Government Announces Two New Property Development Funds Worth £14 million
The Welsh Government has announced two new property development funds launched with £14 million of EU funds to support business growth and job creation in the North, West Wales and the South Wales Valleys.
The £7 million Property for Business Development Grant Fund (PBDG) and the £7m Property Infrastructure Fund (PIF) are each expected to attract £13 million of private sector investment and geared to stimulate the market to meet the needs of businesses.
Both funds are for new build and refurbishments/extensions/adaptions with the Property Infrastructure Fund aimed specifically at advance build developments and the Property for Business Development Grant Fund targeted at supporting businesses with bespoke expansion projects.
The successful projects, selected in conjunction with the regional stakeholders across Wales, will be those that achieve best value for money and create the greatest economic impact. The primary focus will be on projects in Enterprise Zones, Local Growth Zones and City Regions.
Stage 1 Applications, providing brief information on the project requiring support, will need to be submitted by the 30 April 2017 in order to be considered for a provisional allocation of funding.
For more information and an application form for businesses interested in the Property for Business Development Grant or developers interested in the Property Infrastructure Fund to support advance build development should email firstname.lastname@example.org