Hastings Gets £8.5 Million Business Boost
Posted on March 28, 2012
Hastings has been awarded £8.5 million as a result of East Sussex County Council’s bid to Government’s Growing Places regeneration fund. This interest-free loan will allow significant further development of the Priory Quarter business district and creation of an extensive out-of-town business park. This is designed to attract companies, enable local businesses to expand and generate jobs.
Both schemes will be delivered by the new economic development company, Sea Change Sussex, as part of its ten year business growth programme.
£7 million of the funding will be devoted to a major new business scheme in Hastings’ Priory Quarter town centre business district. This comprises 2,323m2 (25,000 sq ft) of high quality offices designed to attract companies to the town and support over 400 jobs. It follows the creation of the One Priory Square offices recently sold to Saga Insurance, which is on target o create 800 local jobs by the end of the year.
The new office scheme already has planning consent. Demolition work can start this spring with construction to follow this autumn and be completed by the end of 2014.