Newhaven Enterprise Zone
Newhaven Investment Fund

NEZ Refurbishment of Employment Space Fund

– 2023-2026 –

02 NEZ Refurbishment of Employment Space Fund

The fund will finance feasibility studies, masterplans, site investigations, pre-planning and business case development to support the case for commercial sites that have remained undeveloped for over twelve months to raise finance.

The fund will be open to all businesses and landowners located in the BN9 Postcode. 40% match funding is required up to a maximum grant of £25,000.

Projects will need to meet the following criteria:

  • Support our Strategic Objectives
  • Leverage investment (a minimum of 1:1)
  • Demonstrate impact and benefits
  • Demonstrate value for money
  • Will be delivered within a 12-month period

Feasibility studies:
This may be the first action required on a site and could highlight where any site led pre-development work is required and would also need to be funded in order to gain viability with a profit/or a break-even cost point.

Business case:
Investment in developing robust business cases to unlock funding for the scheme, either private or public. Most likely following on from an initial feasibility assessment.

Site led pre-development work:
It may follow feasibility work or an existing feasibility report, or be taken forward without. This type of funding is likely to be dependent on the type of site infrastructure intervention required.

New Build:
Funding to construct a completely new commercial building, often for a specific purpose such as expanding into a new service area, creating additional commercial units, or replacing an existing structure beyond repair. This typically involves site acquisition, design and construction costs.

Building Expansion Projects:
Funding to add onto an existing commercial building, increasing its size and potentially functionality. This could involve adding new wings, floors, or modifying existing spaces to accommodate growing needs or new programmes.

Building Refurbishment:
Funding to renovate and upgrade an existing commercial building without significantly changing its footprint or overall structure. This may involve modernisation of systems, improvements to accessibility etc.

Relocation:
Funding to move an organisation or project to a new building or location. This could involve covering moving costs, and adapting the new premises to suit specific needs.

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    Section 1 – Contact Information

    Section 2 – Tell us about your business / organisation

    Section 3 – Project Summary

    Please enter the value of the investment funding required (indicative):

    Section 4 – Indicative Outputs

    Please list the expected outcome that would be secured as a direct result of the Newhaven Enterprise Zone Investment:

    (1) Grants will be paid on completion of the project. Projects that have already started or completed cannot be retrospectively funded.

    Section 5 – Eligibility Checklist

    Please confirm your organisation’s eligibility by answering the questions below:

    Your project will operate in the Newhaven BN9 postcode area

    To be eligible, businesses must meet the following criteria:

    Fewer than 250 FTEs (full time employees)

    A balance sheet of less than £39M

    Turnover of less than £44m

    Have a business bank account

    Are able to provide evidence of full-time trading i.e., bank statements, 2 Years of accounts etc

    The applicant does not have a County Court Judgement

    The applicant is not in debt to Lewes District Council

    The applicant has not received more than £315,000 of state aid (in the last three years)

    The applicant will provide a minimum of 50% match funding investment towards the project

    Section 5 – Declaration

    I confirm that the information provided above is accurate and if successful the company will be submitting a full application.

    Signature*

    An expression of interest does not constitute an application for or an agreement to funding.