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Towns Fund

What is the Town’s Fund?

On 6th September 2019 the government invited 100 places to develop proposals for a Town Deal, as part of the £3.6 billion Towns Fund, with Nuneaton being selected as one of the locations. The objective of the Fund is to drive the economic regeneration of towns to deliver long term economic and productivity growth through: 

  • Urban regeneration, planning and land use: ensuring towns are thriving places for people to live and work, including by: increasing density in town centres; strengthening local economic assets including local cultural assets; site acquisition, remediation, preparation, regeneration; and making full use of planning tools to bring strategic direction and change. 
  • Skills and enterprise infrastructure: driving private sector investment and ensuring towns have the space to support skills and small business development. 
  • Connectivity: developing local transport schemes that complement regional and national networks, as well as supporting the delivery of improved digital connectivity 

Agreeing a Town Deal with investment from the Towns Fund of up to £25m per place will be dependent on government receiving high-quality proposals that meet the objective of the fund. 

The Government required Unitary Authorities, District Councils, and Borough Councils in the areas for the towns selected, as ‘the Lead Council’ to establish a Town Deal Board and then produce a Town Investment Plan for submission by no later than January 2021. 

Our Town Deal Bid

To complement other initiatives and plans to transform Nuneaton, including the Transforming Nuneaton Programme and a bid to the Future High Street Fund, the Towns Deal Board established a vision for Nuneaton, based upon its challenges, strengths and opportunities:

To deliver a step-change for Nuneaton by 2030.  Building upon our proud industrial heritage, our vision is to create a forward looking innovation and entrepreneurial centre in North Warwickshire which helps to raise aspirations and skills, is supported by modern transport and digital infrastructure, and offers a diverse range of community and leisure uses.

Following extensive consultation with stakeholders and members of the public, in December 2020 the Board approved the final list of projects to be included in Nuneaton's Towns Fund bid.  The 12 unique projects the Board selected for inclusion within the Plan total £24,222,601 million and attract co-funding of £4,590,344 million.  These projects form a package of interventions that directly address the challenges and opportunities within Nuneaton whilst achieving significant outputs and outcomes for the town. 

On 11th December, 2020, Nuneaton and Bedworth Borough Council, as lead council, on behalf of the Town Deal Board, submitted the Nuneaton Town Investment Plan to the Ministry for Housing, Communities and Local Government for assessment. 

We await the outcome of the assessment process to see if the plan has been successful. There has already been some success from the initiative as Nuneaton has been awarded £1million of advance funding for works to be carried out to repurpose the two floors above 22 Queens Road – known to many as the former Woolworths store – and create flexible working spaces that include both shared and dedicated office space with a new dedicated public entrance.

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Last updated Friday, 15th January 2021

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