City Centre Property Enhancement Funding

Newport VVP - aerial April 2017

Through the Welsh Government's Targeted Regeneration Investment programme, Newport City Council has funding to provide grants to projects that bring derelict and underused properties back in to use.

Properties in and around the city's High Street have been designated a priority.

Grants available up to March 2021

Funding

There are two funding routes:

1. The Urban Centre Property Enhancement Fund

Aims to bring vacant and underused commercial space back into use. Financial support is available for physical improvements that will help to bring a property back in to use and create jobs

2. The Urban Centre Living Fund

Targets vacant or underused space above commercial properties for conversion to create new homes and city centre living.

The funds are designed to work together, and applications are welcomed for both individual and combined schemes.

Terms and conditions

• Grants are available for owners and leaseholders seeking to improve existing premises, bringing properties back in to use where vacant or underused, or converting non-residential space into living accommodation
• Leaseholders must have the written consent of the freeholder, and evidence of a minimum 10 years on the lease (from the anticipated completion date of any works undertaken)
• Projects will be managed by the property owner/leaseholder and grant conditions require the appointment of a suitably qualified architect to ensure the integrity of the High Street Conservation Area
• Grants are available up to £250,000
• All projects require an element of match funding (private finance) with the expectation that the larger the grant, the proportion of match funding should increase accordingly
• The grant (plus any outstanding mortgage) must not exceed 80% of the property’s current value
• Both grants are available up to March 2021 (with expenditure incurred by this date) but will be subject to the availability of funding

Apply

Complete and return the Expression of Interest form (Word)

For further information please email sarah.armstrong@newport.gov.uk 

 

TRA113148 19/12/19