LEP loan could deliver up to 250 extra jobs says Lancaster Way Business park owners Grovemere
Lancaster Way Business Park has enjoyed exceptional growth in 2016 and a loan from the Government’s Local Enterprise Partnership (LEP) is literally paving the way for future growth.
Mick George Ltd has begun work on a £3.3million package to include installation of new roads, footpaths, a pumping station and a balancing pond.
Park owners Grovemere Property Limited says the loan is financing the improvements which should be complete by April.
Harvey Bibby, Grovemere’s marketing and development director said “We have seen unprecedented growth during 2016 and signs for continued expansion in 2017 are positive, despite uncertainty created by the recent referendum.
“We are working closely with a number of new businesses looking to relocate to Lancaster Way, which will create in excess of 250 jobs.”
So far this year nine small business units have been built – and let- and construction has included a new 13,500 sq. ft. building for Richard Designs, a new 28,000 sq. ft. HQ building for Pecks and a 16,000 sq. ft. HQ for Ellutia Limited which completed in November.
Construction of a new 45,000 sq. ft. building for Deanta UK began in November with completion expected by summer 2017.
Mr Bibby said park has also recently welcomed the expansion of Kindertons and Forces Recruitment and the arrival of Pegasus Publishing who have moved to the estate bringing 20 jobs.
LEP chairman Mark Reeve said: “By providing loan funding to Grovemere we can unlock the potential held onsite and enable the delivery of new business premises and the creation of new jobs in Ely.”
The Enterprise Zone (EZ) status of the park means all the new businesses expanding into new premises within the EZ will benefit from up to £275,000 worth of business rates relief during the first 5 years of occupation.