Property fund to be launched in Llanelli
A £27million property development programme which will help create top quality business premises and new job opportunities is set to be launched across south west Wales.
The Property Development Fund (PDF) programme, which sees the collaboration of four Welsh local authorities, will be launched at Llanelli’s Parc Y Scarlets on Friday, September 4.
The scheme is being led by Carmarthenshire County Council and delivered in partnership with neighbouring authorities in Swansea, Neath Port Talbot, and Pembrokeshire and the Assembly’s Department of Economy and Transport.
One of the scheme’s key targets is to create sufficient employment space to help create around 600 jobs across the four counties.
£10million Convergence funding for the project has been drawn down from the European Regional Development Fund as part of the programme.
Financial assistance will be available to speculative developers, and will provide ‘gap funding’ to encourage the development of high quality business premises within the region’s identified strategic employment sites, creating an additional 18,365sqm of business space.
Developers will be encouraged to build premises to BREEAM Excellent standards to ensure they have high environmental values.
The project aims to equip the region with the physical infrastructure necessary for the development of a modern and competitive economy by 2015.
Those set to benefit include developers undertaking speculative builds, who will receive direct support to meet local need and to attract high quality businesses; existing and new businesses that will have access to well-serviced high-quality premises; and the local workforce who will have new job opportunities.
Cllr Meryl Gravell, Leader of Carmarthenshire County Council, said: “This project will help breathe new life into the region, with the development of high quality, environmentally-sound business premises which will help drive our economies forward.
“Not only will it provide investment and regeneration opportunities to key sites across South West Wales, it will also create huge employment opportunities.
“I am delighted that this funding has been secured which will help us deliver a modern and competitive economy by 2015.”
Cllr Chris Holley, Swansea Council Leader, said: “The pooling of expertise between the four local authority areas, as well as the Department for the Economy and Transport, will enable the sharing of best practice across the region.
“We hope the funding will increase the availability of high quality business premises in the region’s identified strategic employment locations.
“We look forward to working alongside colleagues in our neighbouring authorities to deliver this programme, which will see huge benefits across the region.”
For further information about the PDF programme, contact Jamie Reynolds on (01269) 590214.
The Property Development Fund (PDF) programme, which sees the collaboration of four Welsh local authorities, will be launched at Llanelli’s Parc Y Scarlets on Friday, September 4.
The scheme is being led by Carmarthenshire County Council and delivered in partnership with neighbouring authorities in Swansea, Neath Port Talbot, and Pembrokeshire and the Assembly’s Department of Economy and Transport.
One of the scheme’s key targets is to create sufficient employment space to help create around 600 jobs across the four counties.
£10million Convergence funding for the project has been drawn down from the European Regional Development Fund as part of the programme.
Financial assistance will be available to speculative developers, and will provide ‘gap funding’ to encourage the development of high quality business premises within the region’s identified strategic employment sites, creating an additional 18,365sqm of business space.
Developers will be encouraged to build premises to BREEAM Excellent standards to ensure they have high environmental values.
The project aims to equip the region with the physical infrastructure necessary for the development of a modern and competitive economy by 2015.
Those set to benefit include developers undertaking speculative builds, who will receive direct support to meet local need and to attract high quality businesses; existing and new businesses that will have access to well-serviced high-quality premises; and the local workforce who will have new job opportunities.
Cllr Meryl Gravell, Leader of Carmarthenshire County Council, said: “This project will help breathe new life into the region, with the development of high quality, environmentally-sound business premises which will help drive our economies forward.
“Not only will it provide investment and regeneration opportunities to key sites across South West Wales, it will also create huge employment opportunities.
“I am delighted that this funding has been secured which will help us deliver a modern and competitive economy by 2015.”
Cllr Chris Holley, Swansea Council Leader, said: “The pooling of expertise between the four local authority areas, as well as the Department for the Economy and Transport, will enable the sharing of best practice across the region.
“We hope the funding will increase the availability of high quality business premises in the region’s identified strategic employment locations.
“We look forward to working alongside colleagues in our neighbouring authorities to deliver this programme, which will see huge benefits across the region.”
For further information about the PDF programme, contact Jamie Reynolds on (01269) 590214.
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