A £2 million plan to revitalise Gainsborough’s shopping district has been revealed by West Lindsey District Council.
The council has teamed up with Dransfield Properties Ltd, which developed Marshall’s Yard, to regenerate Market Street and Market Place, creating a new ‘independent quarter’.
The two organisations will form the Joint Venture Company, which will see both partners investing on an equal basis, aiming to bring vacant shops back in to use and making them attractive for independent businesses, at affordable rents.
The project will involve refurbishing the shop fronts to a high standard as well as upgrading the internal space.
Eve Fawcett- Moralee strategic lead for Economic Developments and Neighbourhood at the council explained the Joint Venture Company would continue to position Gainsborough as a retail destination.
She said: “We have produced a heritage masterplan for the town which has directed us to create a grant funding regime.
“This includes the Gainsborough Growth Fund to facilitate and enable new development through the Masterplan and Gainsborough Growth Programme Delivery Plan.
“The Gainsborough Growth Fund Retail Scheme is a pilot scheme which has been rolled out to attract independent retailers. £50,000 has been earmarked to help with costs of physical works to premises.
“In addition we are submitting bids to the Heritage Lottery Fund for a Townscape Heritage Initiative scheme for Lord Street and a partnership. The total value of these schemes will be circa £2 million.”
Leader of West Lindsey District Council, Councillor Jeff Summers said the vision is to create a hub of independent businesses in this part of the town centre.
He said: “We recognise we need to do something to strengthen the appeal of the town.
“The aim is to seek new tenants to widen the choices of shops, cafes and restaurants in Gainsborough.
“Dransfield Properties have a proven history of regenerating through retail as we have seen with Marshall’s Yard and we hope that our combined experience and funds will help create a sustainable town centre.”