Council progressing Â£8m investment for new Chichester business destination
The next stage of an ambitious Â£8m project to attract nearly 100 new businesses to Chichester is set for approval.
Chichester district councillors are expected to approve an agreement with a contractor to redevelop land it owns at Plot 21 in Terminus Road at cabinet next week.
With planning permission already approved for six business units and demolition underway, the cost of the scheme is estimated at £2,083,000, with between £160,000 and £180,000 a year is expected to be generated in rental.
Plot 21 is the smaller of two adjacent council-owned sites undergoing major redevelopment, with more than £6m of council money pledged to turn Plot 12 into a new Enterprise Gateway.
It will provide 90 offices, studios and workshops in a new purpose-built development which CDC says will create between 250 and 275 new jobs every three years and ‘contribute to an improvement in business survival rates’.
Construction began in March and is currently on schedule to be completed by early spring 2018.
It marks the first of a number of major investments in developing the city by CDC, and leader Tony Dignum said: “We want to encourage economic growth in the district and this project is a major part of the council’s encouragement of local business development.
“The centre will focus on the needs of small, medium and start-up businesses, with flexible easy-in, easy-out terms.”
With the ability to rent space for just two weeks, it is hoped small businesses will be helped to access a range of additional support.
Nine contractors responded to the council’s tendering process for Plot 21, and in June an unnamed, preferred contractor was identified, with cabinet members likely to approve the agreement next Tuesday.
As well as attracting new businesses it is hoped existing Chichester-based companies will relocate to the site and ‘expand economic activity in Terminus Road.
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