Gloucester gets £20 million in 'Levelling Up' funding from Chancellor
The city's MP calls it 'simply fantastic news'
Gloucester is set to receive £20 million from the Levelling Up Fund after its bid for cash was approved by Chancellor Rishi Sunak.
The announcement came on the day the Chancellor delivered his Autumn Budget in the House of Commons.
Projects benefitting from the funding include a new hi-tech business centre – The Forge – which will be cyber-proofed for small and medium tech incubator businesses.
The Forge will be part of the £107 million Reef plc and City Council Forum partnership project.
There’ll also be money for the Fleece Hotel’s redevelopment, part of a Dowdeswell and City Council plan to create a 60-bed 4-star boutique hotel and shops.
Gloucester’s Conservative MP Richard Graham welcomed the announcement, declaring it ‘simply fantastic news for all out ambitions for the City Centre and Gloucester’.
Leader of the City Council, Cllr Richard Cook, added: ‘This is excellent news for Gloucester and means that we can continue our regeneration programme at pace.’
MP: 'Simply fantastic news'
The approval means Gloucester will also see a first-of-its-kind renovation project, as the former Debenhams department store site in Kings Square will be transformed into a new Health and Education teaching campus for the University of Gloucestershire.
Stephen Marston, Vice Chancellor of the University, said “The University of Gloucestershire is delighted.
‘This funding means the University can now move ahead with even greater pace, confidence and determination with our major redevelopment of the Debenhams building to form our new City Campus.”
'Brilliant news'
Further reaction came from the directors of companies involved in the renovation.
Development Director at Reef PLC, Esther Croft, said: ‘These funds will accelerate the pace of Gloucester’s ongoing transformation, helping to bring forward The Forge at The Forum.
‘This innovation hub will provide the ideal environment for emerging cyber businesses and other fledgling companies to grow, creating a wealth of new opportunities for the city and wider region.
‘Securing this investment, adds further certainty that these opportunities will be delivered and that Gloucester is poised for real and positive change.’
Managing Director of Dowdeswell Group, Rod Jenner, also commented: ‘This is brilliant news. It was great to see all the projects come together on the bid with the same goal of making Gloucester the destination that it deserves.
‘We can now restore the Fleece to its former glory and prepare it for the next stage in its life.’