NUE Goes Commercial

No Use Empty’s primary focus has been on empty residential properties. However, over the years it has supported the conversion of vacant space above empty commercial units, which have been returned to use but not with loan support.

The Growing Places Fund (GPF) was established by the Ministry for Housing, Communities and Local Government (MCHLG). It is administered through the South East Local Enterprise Partnership (SELEP).

The aim of this funding is to unlock economic growth, create jobs and ‘kick-start’ house building at stalled development sites. Operating as a recyclable loan scheme – it was the perfect match for NUE who through Kent County Council secured £1m to provide short term secured loans to return long term empty commercial properties to use for alternative commercial or mixed-use purposes.

NUE Commercial is tasked with bringing back into use a total of 8 commercial units and 28 residential units by March 2022.

Focus will be on town centres where secondary retail and other commercial areas have been significantly impacted by changing consumer demand and have often been neglected as a result of larger regeneration schemes.

NUE Commercial is on track to deliver its contractual obligations with projects underway in Dover, Folkestone and Margate.