A successful bid for funding of £1million will be used to give a new lease of life to a retail space in Nuneaton town centre.
The grant, which potentially could create 75 jobs, has come from the Government’s Towns Fund team.
It will be used to repurpose the two floors above 22 Queens Road - known to many as the former Woolworths store - and create flexible working spaces that include both shared and dedicated office space with a new dedicated public entrance.
Councillor Julie Jackson, Leader of Nuneaton and Bedworth Borough Council and member of the My Town Nuneaton Board, is extremely pleased with the news.
“This funding is very welcome news for Nuneaton and another positive step forward for our town centre,” Cllr Jackson said.
“To repurpose under-utilised spaces like this is forward-thinking and an excellent way to bring jobs and people into the town centre.
“With this and the Transforming Nuneaton project, we are on our way to seeing a tangible change in the town centre for the better.”
It is expected that the first tenants will move into the building by the summer of next year.
Sean Farnell, Chair of the My Town Nuneaton Board, added: “The aim of the Towns Fund is to level up towns across the country and release town centres’ economic potential. This accelerated funding certainly helps to do that here in Nuneaton.
“More flexible business spaces are needed in town and this is the perfect location for this to be created and do something with an empty space.
“This is one step closer to our goal of helping to regenerate Nuneaton and the town centre and help bring it into the future.”
Nuneaton is one of 100 towns across the country that has been selected to bid for funding from the Government’s Towns Fund Initiative - where up to £25 million per town is available - and an initial consultation with Nuneaton residents on how the money could be spent has received nearly 300 submissions.
The My Town Nuneaton Board are busy compiling all of the ideas that were submitted from the consultation
This shortlist will be revealed in a second round of consultation and then a plan of action, called a Town Investment Plan, will be drawn up to submit for the Government funding later in the year.
A Town Deal Board - made up of business representatives, Nuneaton and Bedworth Borough Councillors, Warwickshire County Councillors and representatives from the Coventry and Warwickshire Local Enterprise Partnership, Warwickshire CAVA, the health sector and community – has been created to bring a funding bid together.
For further information about the campaign and to submit an idea visit www.mytownnuneaton.co.uk
To keep up to date with the initiative follow @MyTown _Nuneaton on Twitter and My Town Nuneaton at Facebook.