Coventry & Warwickshire Local Enterprise Partnership announcement on funding for Studley infrastructure project

In 2015, following the adoption of the Council's Corporate Strategy, an application was submitted to the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) to help unlock Priory Square in Studley for regeneration and development. The site had been vacant for many years and was specifically identified as a priority for the Council.   

That bid was successful in securing funding of £200,000 to support this initiative. Since then the Council has been working closely with the Co-op in Studley to enable the regeneration of the site.  

Unfortunately, due to delays in the delivery of the project outside of the Council's control and a change on emphasis for the site's development, CWLEP has now removed their support and decided that the funding which had been made available for one of Stratford-on-Avon District Council's Infrastructure Projects in Studley should be withdrawn.

A spokesperson for the Coventry and Warwickshire LEP said: "Currently there is no clear project proposal from Stratford-on-Avon District Council which will deliver against the CWLEP's agreed expectations for this project and no clear requirement for Local Growth Deal funds to make this site viable. If a suitable development was to come forward for the site, the CWLEP would then judge it against those criteria.  That decision was discussed at the CWLEP board meeting on Monday and endorsed unanimously. The leader of Stratford-on-Avon District Council, who is a CWLEP board director, was present at that meeting."

In receiving the news Cllr Peter Richards, Housing and Infrastructure Portfolio says: "Although this is very disappointing news, the District Council's involvement in this initiative has had a positive impact in bringing forward the likelihood of this site being redeveloped. We remain confident that we can continue to work with the Co-op to make this a reality.  Despite this set back the Council has a positive on-going dialogue with the CWLEP and are actively reviewing other opportunities to invest in Studley."  

    

Background Information

Priory Square in Studley is owned and part-occupied by the Co-operative Society.  Land to the south of the site is occupied by the Co-operative store and parking.  Land to the north is a cleared, brownfield site (now boarded) apart from a listed building to the north-east of the site.  

The site has been subject to a Council 215 notice requiring site clearance and boarding in 2017.  

Priory Square lies at the heart of Studley village and is a key site requiring urgent redevelopment after many years of neglect.  

The Local Growth Fund provides an opportunity to secure funding for smaller infrastructure projects.