More than £1 million grant funding is available for owners and tenants in the County Durham town, as part of the Property Reuse Fund. The first round of the scheme supported 13 businesses and paved the way for several expansion and conversion projects.
Owners and tenants have been invited to apply for the second round of the Property Reuse Fund. Applicants will need to provide evidence of job creation and bringing vacant floorspace back into use.
Newgate Street in Bishop Auckland, where work continues to refurbish empty buildings (Image: Sarah Caldecott)
Councillor Elizabeth Scott, cabinet member for economy and partnerships, said: “The Property Reuse Fund is just one part of the significant amount of investment and regeneration being put into Bishop Auckland, to boost its economic viability and create a vibrant and attractive place for people to live, work and visit.
“We are keen to see the expansion of the range of services in the town centre. By reducing vacancy rates and bringing buildings back into use with a more diverse and modern retail, hospitality and accommodation offer, the Property Reuse Fund will help bring significant economic benefits to the town. It will provide new facilities for residents as well as attracting visitors who will want to stay longer, leading to higher levels of spend.
“Off the back of the first round of Property Reuse funding, we have been able to help 13 businesses and investors bring empty units back into use, which, in turn, allowed for the creation of jobs for people within the town. Due to the funding’s success, we have decided to allocate Stronger Towns Funding to launching round two, and we hope to achieve more results for Bishop Auckland through the next phase of the scheme.”
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The project is part of the Stronger Towns Fund programme, which aims to revitalise the high street and contribute to the town’s economic growth by diversifying its visitor offer.
The town’s retail and hospitality sector has already been boosted by the scheme, which has helped convert under-used buildings.
The Property Reuse Fund and the Stronger Towns Fund are part of the council’s masterplan for Bishop Auckland and a wider £50 million investment to regenerate the town centre.