Grants offered for businesses to set up shop in Waterlooville town centre in a bid to breathe new life into the area

In a bid to tackle high vacancy rates in the town centre, the council is offering grants to organisations to transform commercial units into customer facing businesses. The council reported that the pandemic has had a ‘profound effect’ on the town centre, resulting in a decline in footfall and rising vacancy rates. This comes despite the growing number of homes being built in Waterlooville – including the ongoing work on the Berewood Estate.

“That along with spiralling energy prices and now the cost-of-living crisis we need to support our town centre and encourage new uses and create a vibrant and animated atmosphere,” the council has said.

“Through a wide range of short-term interventions we are looking at for Waterlooville Town Centre, we will address its visual appearance, tackle vacancy rates and create green spaces and bring together a unique experience for both businesses and residents.

“As part of these short-term interventions we have £140,000 of funding allocated to the Vacant Shop Scheme and are making an open call to businesses and organisations looking to secure funding for their customer facing businesses to assist with fit out costs.

“Proposals from retail, food and beverage, leisure, hospitality, arts and culture as well as professional services including health providers are being encouraged.”

Eligible projects must be in the Vacant Shop Scheme Zone which encompasses the majority of the town centre. Any funding claims made must be for permanent renovation works only.

The amount of funding varies based on the size of the unit being renovated:

• Units under 1,500 sq ft can secure up to £10,000.
• Units ranging from 1,501 to 3,500 sq ft can access up to £25,000.
• Units surpassing 3,501 sq ft are eligible for up to £50,000.

More information can be found here.