Find out about the Cheshire and Warrington Development Fund
The LEP secured £20m of ERDF to establish a Cheshire and Warrington Development Fund. The Fund is administered by CBRE who also manage the North West Fund.
The resource will provide development finance, in the form of loans or investment capital to help build facilities that will unlock opportunities around research and development and support energy efficiency. The fund will be managed by CBRE’s Investment Advisory team. It will complement the two established North West Evergreen Funds which the firm already manages which, since their inception, have been the catalyst for the delivery of over £500m of regional development with wide-reaching socio-economic benefits.
The new fund is a bolt on that will provide a flexible funding resource for delivering targeted investment to unlock potential within the Cheshire and Warrington region. The initiative is expected to help bring forward development sites that have stalled due to lack of finance. It will also be used to provide funding to either retrofit buildings with new low carbon technologies or for low carbon technologies to be installed on new builds. It excludes residential property and retail. Investments will be broadly targeted in three areas:
- £8m low carbon to fund energy efficiency property developments or retro fit existing property developments, including installation of solar panels, additional insulation, LED lighting etc
- £7m research and innovation for new labs and technical spaces
- £5m business support – for SMEs to grow and develop
For further information contact CBRE: https://www.northwestevergreenfund.co.uk/