Tuesday, 31 July 2018
£4.48m D2N2 funding for North Nottinghamshire employment site
400 jobs are set to be created in a development spanning 40,000sq m after funding was agreed by the D2N2 Local Enterprise Partnership (LEP).
The Vesuvius project is a £16.5m initiative which will develop the former Vesuvius Brickworks site, on Sandy Lane, Worksop, North Nottinghamshire.
It will create space for new and existing businesses and generate up to 400 new jobs as a result.
The project can now get underway after £4.48m Local Growth Funding was agreed by the D2N2 Local Enterprise Partnership.
D2N2 is the Local Enterprise Partnership (LEP) for the Nottinghamshire and Derbyshire area. It works with its areas skills and training providers, businesses, local authorities, and community and voluntary sector organisations to create jobs and boost the economy.
As part of its overall mission, D2N2 has an allocation of over £250m in Local Growth Funding (LGF) from Government. This is used to co-invest in projects across the D2N2 area which create jobs, improve infrastructure and attract investment.
D2N2 funding for the Vesuvius project was agreed at the LEP’s most recent Infrastructure and Investment Board Meeting on 26 July.
The Vesuvius site’s £16.594m cost is being covered by £12.108m from property development company Dooba Developments and £4.48m from D2N2’s Local Growth Fund Allocation.
LGF investment will help instigate site-wide remediation and infrastructure works, delivered by the Commercial Estates Group, to unlock the redevelopment of the brownfield site. Once completed, the redeveloped site has the potential to provide around 40,000sq m of new employment space, within the D2N2 economy.
The former Vesuvius site lies on the western side of Worksop and spans 177,000sq m. It includes an area of woodland which will remain in place as works get underway.
Formerly a brickworks, the site was granted planning permission by Bassetlaw District Council for mixed use redevelopment in 2014. Prior to this, it was occupied by Vesuvius UK until 2006. This was acquired by Dooba Developments in 2008 when Vesuvius ceased operations.
The Commercial Estates Group has been appointed by Dooba Developments to manage the development and works on the site. Now that D2N2 funding has been agreed and work is underway, the initial remediation of the site is set to be completed by March of next year (2019). This will allow additional infrastructure works to take place and it is expected that the entire site will be ready for businesses to move in by April 2021.
Sajeeda Rose, D2N2 LEP Deputy Chief Executive, said: “The Vesuvius site represents a massive opportunity for North Nottinghamshire. This is a major investment by D2N2 and the opportunities it will offer to investors and businesses, as well as job creation for the wider area, will have a transformative effect for the D2N2 economy.”Back