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Eligibility criteria

The deadline to apply for funding is fast approaching. Find out more about the eligibility criteria and apply today. 

Eligibility criteria

The total investible capital remaining is £14 million, with a requirement that overall investment from the fund will leverage an additional 40% from private sector co-investment. However, the proportion of leverage at a deal level can be flexible if the overall fund target is achieved. This proportion of leverage is an ERDF output target and a requirement of the ERDF grant funding. 

All developments supported by the Lancashire Urban Development Fund must be occupied by small to medium-sized enterprises (SMEs) from Lancashire’s priority growth.

So far, £6 million of the fund has been allocated to projects across Lancashire, with a remaining £14 million that needs to be committed soon before the monies get returned to the HM Treasury.

Where the fund will prioritise investment  

  • The development of industrial workspace with individual floor space sized up to 10,000 square feet (930 square meters)

  • The development of larger industrial workspace units above 10,000 square feet (930 square meters) 

  • Viable commercial office developments 

  • The 30 sites identified in the Lancashire Strategic Economic Plan (SEP) will be prioritised over other developments (however, development will not be limited only to these sites) 

  • Stalled and marginal developments in Lancashire  

  • Schemes that will contribute to and accelerate the economic growth of Lancashire  

  • The refurbishment or repurposing of older industrial stock

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Who can apply for funding

Lancashire Urban Development Fund will prioritise funding to specific high-growth sectors in Lancashire, including:

  • Advanced engineering & manufacturing
  • Aerospace & aviation
  • Automotive manufacturing
  • Creative, digital, ICT and new media
  • Energy and environmental technology
  • Business, professional and health services
  • Food & drink
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