New venture to attract hub of independent shops to Gainsborough

New venture to attract hub of independent shops to Gainsborough

21 November 2016

Plans have been unveiled for a programme of investment and refurbishment of town centre shops including new frontages to create an attractive new “independent quarter” in Gainsborough.

West Lindsey District Council is working together with retail experts Dransfield Properties Ltd – the developers of Marshall’s Yard - on exciting new plans to  regenerate the historic Market Street and Market Place areas of the town centre.

A Joint Venture company will be formed, which will see both partners investing on an equal basis with the aim of breathing new life into this part of the town, bringing  vacant shops back in to use and making them attractive for independent businesses, at affordable rents.

The project will involve refurbishing the shop fronts to a high standard as well as upgrading the internal space.

Leader of West Lindsey District Council, Cllr Jeff Summers said the vision is to create a hub of independent businesses in this part of the town centre.

He said: “We recognise we need to do something to strengthen the appeal of the town. The Association of Town Centre Management regard this type of public and private sector partnership as an innovative way forward to regenerate historic market towns.

“The aim is to seek new tenants to widen the choices of shops, cafes and restaurants in Gainsborough.

“Dransfield Properties have a proven history of regenerating through retail as we have seen with Marshall’s Yard and we hope that our combined experience and funds will help create a sustainable town centre. The council is open for business and will continue to look for innovative ways to work with all stakeholders to create something really new and unique in this part of Gainsborough”

Mark Dransfield, Managing Director of Dransfield Properties, said: “We are really pleased to be working with the team at West Lindsey District Council on this project. We pride ourselves on creating strong partnerships to strengthen the towns in which we work. 

This is a key part of the town centre and careful work and investment will create a strong linkage between the market place and Marshall’s Yard.”

Eve Fawcett- Moralee strategic lead of for Economic Developments and Neighbourhood at the council explained the Joint Venture Company would continue to position Gainsborough as a retail destination.

She said: “We have produced a heritage masterplan for the town which has directed us to create a grant funding regime. This includes the Gainsborough Growth Fund to facilitate and enable new development through the Masterplan and Gainsborough Growth Programme Delivery Plan. The Gainsborough Growth Fund Retail Scheme is a pilot scheme which has been rolled out to attract independent retailers. £50,000 has been earmarked to help with costs of physical works to premises.

In addition we are submitting bids to the Heritage Lottery Fund for a Townscape Heritage Initiative scheme for Lord Street and a partnership. The total value of these schemes will be circa £2 million.”

In the meantime, the council is continuing to promote sites in its ownership including the former Guildhall, Bridge Street and the Baltic Mill through a procurement process which will publicised in the European Journal later this month.

This follows the successful INVEST Gainsborough launch in July.

To find out more about Invest Gainsborough visit: www.investgainsborough.com
For more information about the funds visit: www.west-lindsey.gov.uk/my-business/gainsborough-growth-fund/

Picture shows left to right Amanda Holmes from Dransfield Properties with Marshall's Yard Centre Manager Alison Hall and leader of WLDC Cllr Jeff Summers.

Notes to editors     

Gainsborough Growth Fund - to facilitate and enable new development
Both new and existing businesses are eligible to apply provided that the project takes place in Gainsborough, Lea or Morton

It includes two types of funding:

1. Feasibility and Planning Fund –offers grants of up to £10,000 available to assist with professional fees and technical survey work associated with the development of sites and premises or technology and equipment which would support business growth.
2. Development Fund - Grants of between £10,000 -100,000 available (no more than 25% total project costs) to support capital activities, including investment in sites and premises and/or the purchase of equipment. 

Gainsborough Growth Fund Retail Scheme - to attract an independent retail offer. £50,000 has been earmarked to run the pilot.

• It is proposed that this grant scheme will provide a one-off discretionary financial contribution to eligible businesses to cover up to 75% (to a maximum value of £15,000) towards the total cost of physical works to the premises.

• Schemes with project cost below £40k will be eligible to apply to this fund.  Larger schemes with total project costs over £40k are eligible to apply to the Gainsborough Growth Fund.

• Vacant properties located in Gainsborough town centre, namely – Market Place, Silver Street, Lord Street and Market Street will be eligible to apply to this scheme.

• A1 and A3 retail uses are specifically being targeted and therefore applications from businesses/landlords requiring these uses only will be considered.

ENDS

For further information contact:
Julie Heath, Senior Communications Officer, on (01427) 66502

For further information, contact:

Public Relations Department, Dransfield Properties Ltd
Tel: 01226 360644
Email: pr@dransfield.co.uk