HLF has just announced the launch of the Heritage Enterprise fund, aimed at enabling local communities and organisations to work in partnership with the private sector to bring historic buildings back into productive, commercial use.
The fund — £125m over the next five years — will make grants totalling at least £25m a year.
- Read more on the HLF website.
- Read more in Third Sector Online.
- Read the HLF publication, New ideas need old buildings.
- Watch the Heritage Enterprise video.
According to HLF:
“Heritage Enterprise is designed to address ‘market failure’ – where historic buildings have failed to attract investment to realise their potential business premium because their cost of repair has meant that it is not commercially viable for private developers to take on. Grants of between £100,000 and £5million will plug the gap between the costs of repair and the value of the property after restoration”.