More than £7m of Government investment is set to anchor growth and unlock development potential in the Gosport Waterfront area of the Solent Enterprise Zone.
Following a successful bid by the Solent Local Enterprise Partnership, the Department for Communities and Local Government (DCLG) has announced a grant of £7.09m for essential public investment in infrastructure to upgrade the waterfront road within the Enterprise Zone and develop brownfield sites in the area for commercial, leisure and residential development.
The funding will be used to:
Upgrade the main access road serving the southern third of the Enterprise Zone at Lee known as the Gosport Waterfront
Unlock the development potential of 15,000 sq m of land across three sites in the area through the provision of utilities and services
Provide spur road access into the development sites
Gary Jeffries , Chairman of the Solent Enterprise Partnership, said: "This is excellent news for the Solent Enterprise Zone and the wider area. Significant construction work is already underway on the Solent Enterprise Zone and this enables us to start work on a new area - the Gosport Waterfront.
"The grant from DCLG will unlock this area's considerable potential by enabling us to invest public money in critical infrastructure and make early progress in creating new commercial development, providing new local jobs. In the slightly longer term we will be seeking investment in a comprehensive redevelopment that presents an exciting opportunity for private sector investment in new businesses, leisure and in new homes."
Communities Secretary Eric Pickles added: “Enterprise zones are at the centre of our long-term economic plans to build a stronger, more competitive business environment and a better future for Britain. This funding will give these areas the infrastructure they need to attract more investment, support the growth of local businesses and create up to 3000 jobs for hardworking people across the country.”
Kevin Bourner, Head of Area at the Homes and Communities Agency (HCA) which owns the Enterprise Zone site, said: “This builds on the significant strides partners have made to bring new investment and jobs to the Solent Enterprise Zone. Work to deliver the new Fareham College facility is underway, plans for an innovation centre are progressing and businesses are showing strong interest in moving onto the site.
"This latest investment forms an essential part of unlocking the Waterfront to redevelopment which will benefit the entire enterprise zone and wider economy. This will be an exciting year for the Solent Enterprise Zone, and we remain focused on turning partners’ vision for this site into reality.”
Confirmation of the investment means that the partnership is now in a position to draw up contracts for tender. It is expected that work on the infrastructure will start next Spring.
The funding is in addition to investment already underway at the Solent Enterprise Zone through the Solent LEP, HCA and its partners. The first phase of the development at Daedalus East will deliver around 20,000 sq m of commercial development, CEMAST, which is Fareham College’s 4,000 sq m advanced engineering skills training centre, and a new 2,000 sq m Innovation Centre that will provide opportunities for new business start-ups and expansion.
This grant brings the total investment committed to the Solent Enterprise Zone to more than £40m.