Coast to Capital is pleased to support Tandridge District Council with an ambitious project to help regenerate Caterham Valley's town centre, supporting local businesses and economic growth in the area, to create a sustainable place for residents and local businesses.
The Council will receive £4.9 million in funding from Coast to Capital through the Local Growth Fund, awarded to Local Enterprise Partnerships like Coast to Capital for investment in projects that benefit local areas and economies.
This funding is in addition to the £225,000 previously awarded to the Council. Both sets of funding will help the Council transform Quadrant House in Caterham Valley town centre, helping generate growth in the area.
The initial funding is being used to refurbish the common parts of Quadrant House and to create the Workary, Caterham, where small businesses in the area will soon be able to access local flexible, affordable work space and business support, along with face to face and digital networking opportunities.
The additional funding will enable the Council to refurbish the remaining vacant suites to better suit modern requirements, to significantly improve the external appearance of the building and to incorporate a number of environmental features such as solar panels, a green wall or green roof and heat recovery air conditioning.
The project will attract more people to the area, support the local economy and protect jobs and the environment.
Jonathan Sharrock, Chief Executive at Coast to Capital said:
"COVID-19 has had a significant impact on our already struggling high streets. Safeguarding our area for the future via Local Growth Fund investments is a key priority for us, and helping to create vibrant mixed-use spaces for businesses, residents and visitors will help to protect the local economy. We will be working with Tandridge District Council to bring Quadrant House to life and I look forward to seeing progress with the scheme."
A Tandridge District Council spokesperson said:
"We are delighted to have been awarded this funding at what is a really exciting time for the development of Caterham high street. This investment in the development of Quadrant House will support new and existing businesses, as well as attract more businesses into the area. This will also support the shops, cafes, restaurants and other businesses along the high street."
This news release is endorsed by the Conservative, Independents and OLRG Alliance, Liberal Democrat and Independent groups.