A property development fund of £10m aimed at boosting investment in the Port Talbot Waterfront area is now open, with Neath Port Talbot Council actively looking for expressions of interest from developers. The fund will be used to redvelop the Port Talbot Waterfront area, which includes Harbourside, Baglan Energy Park, and Baglan Industrial Estate.
Eligible projects will be awarded up to a maximum of 45% of costs and the property development fund will aim to fund three schemes of approximately 2,000 square metres each that could accommodate up to 400 jobs, with the creation of 120 new jobs over five years. The cost of delivering the project will be £4.5m, which will be matched by a minimum private sector investment of £5.5m.
It will work by providing financial help in the form of funding towards the construction or refurbishment of high quality buildings for speculative, industrial and commercial use. The fund will specifically target the research, development and innovation sectors, with the aim of creating jobs across the area.
