Developing Commercial Workspace – Coalville

Project Summary

The provision of high quality business premises to increase the availability of managed workspace, incubator and starter and grow on units, focused in the Coalville area.

The project will support the delivery of the objectives of North West Leicestershire District Council’s Growth Plan 2014-2018, which identifies five key sectors prioritised for growth within the district, one of which is Business and Professional Services linked to town centre regeneration.

Market research has shown that the provision of additional industrial units should concentrate on addressing the market shortfall in smaller and medium grow on units of 1,000sq ft – 9,000sq ft with the aim of increasing both the overall number of letting opportunities and facilitating business start-ups, expansion and development.

The Coalville Workspace initiative will allow for the flexibility to sub-divide the units to sizes as low as 1,000sq.ft and as large as 9,000sf.ft which allows a wider audience to be targeted. This level of flexibility gives the ability to react to a market

Project Sponsors: Leicestershire County Council

LLEP Investment: £2.4 m

Project Status: On-going

Start Date:  January 2018

End Date:   March 2020

Outcomes:

  • 3,809m² new floor space
  • 126 new jobs

Longer term impacts are expected to include:

  • Improved GVA and jobs growth
  • Coalville area community – potential benefits to local supply chain
  • Environmental improvements – decontaminating land, replacing old buildings with new energy efficient ones
  • Enhancement of the National Forest in which the development will sit. Note that planning process is subject to National Forest policies, which means (amongst other things) that planting schemes form part of any development.