Land
Q: We want to expand our business and relocate but are having difficulty identifying available land or building plots for our proposals. Who can help us with this?
A: It is the responsibility of the business to search for and secure any land needed for your development. Within each Local Authority area, there is a Local Development Plan that identifies where specific types of development would be acceptable (in principle). Businesses should contact the Local Planning team to start an initial discussion if they are still looking for potential sites. Alternatively, contact with local land agents and/or Planning Consultants is a good way to support your land search.
Q: We are aware that the Mid Wales Growth Deal is supporting other commercial property development schemes across the region. Will companies looking to expand have an opportunity to relocate to these sites?
A: Yes, that is possible, but those wishing to do so could not secure funding support through the Mid Wales Commercial Property Investment Fund as Growth Deal funding will already be tied to those developments for the creation of the commercial space you are seeking. You will need to discuss your relocation plans with those parties who are developing those sites separately.
Q: Some existing sites/building plots are Welsh Government owned; can the Fund Management Team help to make these more accessible to businesses?
A: We can help by raising this matter at our collaborative meetings with Welsh Government, but you will still need to discuss your relocation plans with them separately.
Q: We own land, but it is outside the settlement boundary shown in the Local Development Plan, would developing it for commercial use make a difference to securing planning approval?
A: This would need to be checked directly with the Local Planning Authority.
Q: Is it permissible to include the cost of land purchase in project costings?
A: Yes, provided the site has been purchased for the sole purpose of enabling the project.
Type of Project
Q: Is it correct that proposals do not have to create new buildings, but that retrofitting/refurbishment of existing premises would be acceptable?
A: Yes, it is possible to secure funding for a retrofit/refurb project provided it is still creating new commercial space, typically by way of a Planning 'Change of Use', for example converting a former retail unit into factory space.
Financial
Q: Are you expecting a business to fund the entire project first and recover relevant costs afterwards?
A: Yes, you would need to evidence the costs incurred and submit the details on our claim form retrospectively. Costs can be recovered in this way in stages, not just in one lump. The costs incurred need to be eligible capital costs directly relating to your project.
Q: Have you created value bands within the Fund that bids must fit into, and have you allocated a proportion of funding to each one?
A: No, we have not done that because we did not know how the market would respond, and we did not wish to overly restrict the structure of the Fund so we can open it out to as many businesses as possible.
Q: Have you set a lower limit for the overall cost of a project?
A: Yes, the minimum project value is £250,000.
Q: I understand the maximum Fund intervention rate on a project will be 45% of overall project cost. Will the value of any public sector finance be factored into this?
A: Public sector finance (but NOT other public sector grant monies) can be applied as part of a project's match funding proposals.
Evaluation
Q: How will the Fund promote a Circular Economy, supporting the local construction supply chain in Mid Wales instead of going out of the region?
A: We would encourage businesses applying for funding to comply with our Procurement Guidance provided and, in terms of sustainability, to use local contractors for delivering their projects wherever practical.
Q: In the past these grants have sometimes been given to companies that are not profitable. How will you consider this and factor findings into your decision making when assessing bids?
A: We will be carrying out some pre-qualification checks on business standing as part of our evaluation process. The application forms ask for details of company standing and for details of ownership etc, but we will also be undertaking wider due diligence checks at each project stage. Companies failing to meet these requirements will be disqualified from participation in the Fund.
Q: Who is on your Fund Evaluation Panel?
A: It is a modest group currently, comprising the head of the Economy Teams from each Council, a Senior finance officer and members of the Fund Management Team. We foresee a need to bring in wider skills for assessing certain aspects of applications, in particular a project's design proposals and costings.
Contacts
Q: Where can I go for further assistance in putting a bid together?
A: Please continue to contact the Fund Management Team, but you can also refer to the Contact page of our website where we have provided a list of organisations (and their contact details) who are prepared to support you through the process. These include a couple of funding/finance organisations.
Share this page
