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£1 million fund to breathe new life into Newport city centre buildings

Newport City Council has secured £1 million to support the redevelopment of empty or underused city centre properties.

It successfully applied to the Welsh Government’s town centre repayable funding scheme that offers interest-free loans to enable buildings to be brought back into use.

Developer and investors with well-developed project plans have until Friday 20 September to submit expressions of interests to the council.

These projects must relate to a property within the defined city centre area; reduce vacant or underused premises and encourage more sustainable uses such as offices, residential, leisure or key services.

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More details of the scheme, and how to apply, can be found at http://www.newport.gov.uk/en/About-Newport/Regeneration/Town-Centre-Repayable-Funding-Scheme.aspx

Councillor Jane Mudd, Newport City Council’s Cabinet Member for Regeneration and Housing, said: “This is a fantastic opportunity for those with a considered and comprehensive project to get it off the ground with some finance from the council.

“We are already seeing former retail properties being transformed into homes, offices and leisure spaces and this scheme will contribute to our continuing ambition to create a more sustainable, diverse and vibrant city centre.”

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