Kick-starting the local economy with a revitalised case for change
2 mins read
We’re helping Newark and Sherwood District Council (NSDC) to promote business growth, generate jobs and attract future investment by winning valuable government funding for restoring an historic building.
The redevelopment of the Buttermarket, an impressive but neglected building in the middle of Newark, had been on the cards for some time. Before Capita became involved in late 2019, It had been severely underused and was lined with vacant shops. NSDC made an initial business case to secure funding for its redevelopment but the Ministry of Housing, Communities and Local Government (MHCLG) had concerns that delayed the necessary funding approvals - as well as the project itself.
So NSDC called on our local government case-making team to develop a revised final business case for it, requesting upwards of £650,000 in grants for the Buttermarket project.
We combined our deep expertise and extensive experience with the best practice outlined in HM Treasury’s Green Book to build a new business case, revitalising and redefining the case for change in the process. Our expert team provided clear recommendations and guidance on how NSDC should proceed with the project and developed a compelling case for the redevelopment of the Buttermarket by identifying the options that would best meet the council’s priorities.
- gathered the MHCLG’s feedback and queries about the previous business case to identify the most important areas for improvement
- assessed the project’s detailed objectives
- engaged with NSDC to recommend solutions for the Buttermarket’s top floor, including putting pop-up shops there until more permanent tenants could be found
- produced in-depth financial analysis showing the scheme’s viability and its potential impact on the local community.
Our team produced such a compelling business case for government support for the Buttermarket’s redevelopment that not only did the MHCLG award the original grant, but it also added an extra £15,000.
“I’m absolutely delighted! Thank you for your help and professionalism, we could not have done it without you,” said Peter Preece, NSDC’s Project Officer.
The government’s funding for the Buttermarket project has transformed an historic old building into a mixed-use scheme that combines retail, leisure and community spaces in the heart of Newark. It has opened up a positive future for the market town, acting as a catalyst for reinvigoration and stimulation, and ending the area’s stagnation. Now a popular place to see and be seen for local people, it has expanded Newark’s night-time economy and provided 40 new full-time jobs alongside 1,672sqm of developed space, stimulating local growth and incentivising further development.
To find out how we can help you to secure valuable funding with a compelling business case, contact us today.