Exciting plans for a major new business park in Skegness have been announced at the UK’s leading property event.

Proposals for Skegness Business Park were officially revealed on Wednesday (16th October) by Councillor Colin Davie at MIPIM UK in London, which brings together property professionals and investors from across the world.

The project will kick-start the development of the 31-hectare greenfield site and will be carried out in phases; the first will focus on a five-hectare area of land off Hassall Road. Seven small business units will be created along with an extension to the existing road and a new road connecting through to Holly Road.

Councillor Davie, Executive Member for Economic Development at Lincolnshire County Council and a LEP board director, said: “This is an important step towards boosting the future prosperity of our seaside towns and attracting greater investment into the coastal economy.

“The business park will give local firms the room they need to grow and will be a place they can thrive and succeed. It will play an important role in Skegness’s growth in the coming years, bringing new businesses to the area and creating much-needed job opportunities for local people.

“And I’m delighted that we’ve had the opportunity to share our plans at MIPIM UK and let investors from across the world know that Lincolnshire is open for business.”

Matt Warman, MP for Boston and Skegness, added: “The Lincolnshire coast has huge potential for growth, and today’s announcement is another example of government, council and the LEP working together to deliver real improvements. It follows the news of the Stronger Towns Fund’s £25m boost for Skegness, heralding an exciting future for residents, businesses and tourists alike.”

The estimated cost of the first phase of the project is £2.398m, £1.279m of which will come from the Single Local Growth Fund via the LEP. The remaining funding will be provided by Lincolnshire County Council.

Ruth Carver, Chief Executive of the Greater Lincolnshire LEP, said: “The LEP is very pleased to contribute £1,279,000 towards the construction of these much-needed managed workspace units for small and start-up businesses. This scheme will undoubtedly have an important impact on the coastal economy.”

Work is planned to start on site in early 2020.