“The expansion of Newcastle Enterprise Centre would bring much-needed workshop space for local small businesses, offering them a chance to expand into purpose build units.
It will also play a key part in the overall Knutton Masterplan, regenerating the wider area, strengthening the local community and boosting its economic growth.
Working closely with Newcastle Borough Council we aim to deliver a top-quality facility for small businesses, utilising the Town Deal funding. We’re pleased to be able to invest in the project to enable it to happen and get it off the ground as soon as possible.”
Mark Deaville, Cabinet Member for Commercial Matters
Note by Clerk: Cllr Philip White declared an interest and left the room during the consideration of this item.
Reasons for the Decision – To consider proposals for the extension of Newcastle Enterprise Centre, Knutton.
Decision – (a) That the acceptance of investment of circa £1,140,000 from the Newcastle Town Deal (Newcastle Borough Council) initiative to facilitate the delivery of an extension to Newcastle Enterprise Centre at Knutton be approved.
(b) That the investment of up to £440,000 of SCC borrowing to facilitate the delivery of an extension to Newcastle Enterprise Centre at Knutton be endorsed, and that it be noted that the borrowing costs will be repaid from the increased rental income generated on site and will be underwritten by the Business and Enterprise revenue budget.
(c) That Delegated authority be given to the Director for Economy, Infrastructure and Skills and the Director of Corporate Services to enter into relevant contractual and other arrangements pursuant to the delivery of the project.