Rugby Radio Station tunes into Government funding for growth

The first phase of the Sustainable Urban Extension (SUE) at the former Radio Station site has been earmarked for support via the Large Sites Infrastructure Fund (LSIF) in recognition of its strategic significance and ability to deliver sustainable local, regional and national growth objectives.

The LSIF aims to accelerate and unlock the development of large housing sites across the UK, and has a total of £1 billion to invest.

The Government’s Homes & Communities Agency (HCA), the agency administering the fund, has appointed a dedicated project manager to work with the developer through the due diligence period for the funding, which comes in the form of a loan.

The HCA aims to complete its review and have agreements in place by 31 March 2015.

Neil McLeod, of the Rugby Radio Station Limited Partnership (RRSLP), said: “Following the grant of outline planning permission earlier this year, this announcement is yet another significant milestone and shows that the delivery of the Radio Station site is supported at the highest level.  

“Furthermore, the additional central Government funding secured will leverage our committed private sector investment and accelerate delivery, which is good news for the SUE and good news for Rugby.”

Cllr Heather Timms, Rugby Borough Council portfolio holder for economic development, said: “The Radio Station site is a very important site in the development of the borough, and this funding decision shows it is important nationally as well.  

“We are very pleased the funding will mean important infrastructure will be built earlier in the development, and will therefore benefit existing residents and new residents much sooner.”

Outline planning permission for the SUE was granted in May 2014. The development of the Radio Station site includes up to 6,200 new homes, together with commercial space, schools, green space, heritage and a full range of supportive development.  

Details of the first key phase have been submitted to Rugby Borough Council for approval, with site preparation and ecological works set to start in the autumn.

The first homes at the site look set to be available during 2015.