Funding for Minster Innovation Exchange, a 20,000 sq ft purpose-built commercial space in Cheltenham, has been approved by Cheltenham Borough Council’s cabinet after a meeting on Tuesday 10 November 2020.
The cabinet has agreed to accept £3.114 million from GFirst LEP via the central government’s ‘Getting Building Fund’, and the award of the Tier 2 Growth Hub residual grant of £433,638.
The funding will fast-track the delivery of the scheme, which forms an important part of Cheltenham Borough Council’s Covid-19 recovery action plan.
Delivering flexible workspaces, a community and education space, and a performance arena with capacity for 300 people, the low carbon modular venue is set to provide a significant boost to the local economy.
Located next to the historic St Mary’s Church, the funding will also subsidise public realm improvements within the grounds of the Minster, from lighting and paving to seating and planting – creating a vibrant communal hub in the heart of the town.
The project will also help to establish Gloucestershire as the global centre for cyber-tech and digital innovation, acting as a pilot for similar developments at the planned Cyber Central campus – while reinforcing Cheltenham’s position as a strong contender for inward investment opportunities.
For more information, visit cheltenham.gov.uk.