Swansea is proving to be an attractive choice for business investors, with big names like Turtle Bay, Costa Coffee and others moving into the City Centre over the past few months alone and with Denny’s on its way after Christmas.
We are all excited to see the city blossoming and the coming years are set to boost Swansea’s fortunes further thanks to important ongoing developments in The Kingsway, Parc Tawe, Lower Oxford Street, and others.
One of our key priorities as Swansea BID is to help new investors set up business in the City Centre and, importantly, to support those already operating within our City Centre area to get access to funding that can help them improve or expand their businesses.
We can help facilitate up to 45 percent funding to improve your commercial property in the Swansea BID area.
Our partners at Swansea Council have two grants available to help property owners, tenants and developers improve the built environment of Swansea City Centre BID area. Swansea BID can provide this information and direct our Swansea BID businesses to the right department and contact to help smooth the process, so doing business in the BID area is even easier.
The Property Enhancement Development Fund (PEDF)
PEDF Grants are available to owners or occupiers in Swansea City Centre keen to improve their commercial properties.
Projects can receive a PEDF grant of up to 45 percent of the eligible cost of the improvement work and professional fees, with each case assessed on an individual basis. Items eligible for a grant include building facades, roofs, shop fronts, rainwater goods, signage and lighting.
Where properties are currently vacant the PEDF grant might also be extended to include internal work to eligible properties. Internal grants will not include fixtures and fittings associated with the end use but will include welfare facilities.
The award and level of grant offered is at the discretion of the City and County of Swansea. Be aware that an application would be ineligible if the proposed works have already begun, or have been announced before a grant has been awarded.
The Homes Above Shops Grant
Homes Above Shops (HAS) grants are available within the Swansea BID area to convert empty floorspace on upper floors of commercial units into new residential accommodation. Many City Centre planning experts buy into the idea that City Centres would benefit from an increased emphasis on residential property, to help support commercial activities.
Swansea BID projects can receive a HAS grant of up to 45 percent of the eligible cost of the work and professional fees, with each project being assessed on an individual basis. Items eligible for a grant include all works necessary to create new residential accommodation excluding fixtures and fittings.
The award and level of grant offered is at the discretion of the Local Authority. Be aware that an application would be ineligible if the proposed works have already started or have been announced before a grant has been awarded.
For further information on either of these grants and how your Swansea BID business could benefit, please contact Russell Greenslade on: 01792 475021.