Carmarthenshire County Council is acting on behalf of the South West Wales consortium of local authorities and in partnership with the Department of the Economy and Transport to deliver a Property Development Fund, which provides assistance for the speculative development of buildings for industrial / commercial use with the primary aim of creating capacity for employment in selected areas of South West Wales. The scheme is also designed to encourage the development of BREEAM Excellent rated buildings across the region.
The programme is delivered in the four South West Wales Local Authorities of Pembrokeshire; Carmarthenshire; City & County of Swansea and Neath Port Talbot County Borough Council. The fund only applies to certain designated or strategic sites across the region, for the full list of strategic sites developers are encouraged to contact Carmarthenshire County Council.
The level of funding applied for should be established by a development appraisal, and should reflect the difference between the anticipated capital cost of the scheme and the anticipated completed market value of the premises. The level of funding offered can be affected by:
- The minimum level which is considered necessary to achieve the project
- The value of the project to the local economy based on the number and type of jobs accommodated; the area of floor-space made available; the area of land developed and the number of small & medium enterprises to be supported
- The maximum funding awarded for each project will be at the discretion of the relevant local authority
Funding is governed by intervention rates which are determined by the commercial size of the applicant – guidelines are:
|| Small enterprise i.e. <50 employees, annual turnover which does not exceed 10million euro.|
|| Medium enterprise i.e. <250 employees, annual turnover which does not exceed 50m euro. |
For more information please contact Michael Hooper on 01267 242341 MAHooper@carmarthenshire.gov.uk or Angharad Jones Leefe on 01269 590268 AJonesLeefe@carmarthenshire.gov.uk