Project:

Commercial Property Development Fund

Overview:

A Commercial Property Development Grant to close viability gaps for private sector developers of industrial and office property, with funding also available for similar public sector developments on a Joint Venture Agreement basis.

Lead Sponsors:

 

Additional GVA

Generate up to £700 million net additional GVA

Job Creation

Create up to 2,180 new jobs in the region

Investment

To deliver up to £321m of investment by 2036

Which stage has the project reached?

Stage01.
Determine the Project context:

The planning phase of the spending proposal. Assessing the strategic context for the project and demonstrating how it provides synergy with other projects within the portfolio.

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Stage02.
Preparing the Strategic Outline Case:

The scoping phase of the project. Making the case for change and identifying the preferred way forward.

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Stage03.
Preparing the Full Business Case:

The procurement phase of the project. Recording the findings of the procurement and confirming the management arrangements for the delivery, monitoring and evaluation of the project.  

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Stage04.
Approval of the Full Business Case:

The Full Business Case is presented to the Economic Well-being Sub-Committee for approval. When approved the implementation phase of the project can begin. 

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Stage05.
Project Implementation and Monitoring:

The project implementation phase. The Full Business Case is used as a reference point to deliver the project and monitor progress. 

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Stage06.
Project Evaluation:

The post project implementation stage. Evaluating how well the project was delivered and lessons learnt.  The Full Business Case is used to determine the extent the anticipated benefits were delivered and realised.

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Key Members

  • David Mathews Land and Property Programme Manager
  • Angharad Elliw Evans Growth Deal Project Manager