Freshney Place secures £17m in Government funding for Grimsby cinema development

Grimsby's new cinema is one step closer to becoming a reality following the successful securing of a multi-million grant from the Government’s Future High Street Fund.

Grimsby's new cinema is one step closer to becoming a reality following the successful securing of a multi-million grant from the Government’s Future High Street Fund.

Capreon, the Noé Group’s real estate investment and advisory firm, in partnership with North East Lincolnshire Council, secured access to the Government’s Future High Street Fund to help retail recover from the pandemic and transform Grimsby town centre.

The Government approved the funding for new leisure scheme proposals by Capreon and NELC to maximise the benefits for Grimsby.

Capreon and the North East Lincolnshire Council (NELC) are pleased to confirm that Grimsby has been awarded a government grant of £17.2m following a joint bid for funding from the Government’s Future High Street Fund (FHSF).

Work will now start on planning the delivery of this key project for the town centre in the coming years.

The wholescale transformational offer has been put together to deliver real change for Grimsby – helping the town adapt to changing visitor needs and requirements and making it a place for everyone to come together and enjoy.

Cllr Philip Jackson, Leader of North East Lincolnshire Council, said: “The vision for the town centre is really exciting, and really complements the work that’s being done at St James’ Square and Garth Lane, which we’re looking forward to unveiling in the coming weeks.

“This latest confirmed funding for the town centre jigsaw will help bond all the new elements together so that there’s a revived space for people to enjoy living in, working in and visiting.

“Today’s confirmation is on top of the recent news about Grimsby receiving almost £21m through the Government’s Towns’ Fund and our area being selected to be part of the Freeports scheme as well.

“And with the Grimsby Creates work alongside the development in the town, people in the area will have lots to look forward to!

“These are landmark moments for our Borough’s businesses and residents.”

Amanda Austin, centre director Freshney Place Shopping Centre said: “We’re delighted that Grimsby has been awarded this funding and are satisfied that the plans will deliver both the leisure and hospitality facilities that will truly add value to the town and its community, building a strong platform for the future prosperity of the town.”

The scheme has been developed as a partnership scheme between the Council, Freshney Place and Capreon, the asset managers acting on behalf of the owners of Freshney Place.

As the asset manager on behalf of the owners of Freshney Place Shopping Centre in Grimsby, Capreon has worked with NELC officers to put together plans for a new leisure scheme to be anchored by a cinema, food and beverage units and a new public square and market.

The Future High Street Fund was launched in December 2018 by the chancellor, Rishi Sunak MP, and housing minister, Robert Jenrick MP. The ministers announced the regions that would be receiving investments in December 2020.

It is a central part of the Government’s renewed effort to support regions in their recovery from the pandemic and help transform under-used town centres into vibrant places to live, work and shop.