Sherwood area to receive £20m investment

Posted on: Monday, November 20, 2023

Today the Government has announced that Sherwood will benefit from a £20 million investment as part of its Levelling Up Fund Round 3. For years, the District Council has been working hard, developing exciting regeneration projects for Ollerton and Clipstone. While it has been applying for funding to make these projects a reality, today is the day that marks the official start of this exciting journey for the Sherwood area. 

Councillor Paul Peacock, Leader of Newark and Sherwood District Council explains: “This announcement is long-overdue, but it is well deserved and needed, especially for Ollerton. Our regeneration team have been working hard at shaping ideas to where they currently are and without our ‘ready-to-deliver’ projects, the much-needed investment may not have been so forthcoming.

“This investment is great, but it really needs to be supported by yet further investment, in road infrastructure for example, and I hope that the Government will continue investing further in Ollerton and Clipstone.”

The District Council has two projects that it hopes can be funded by this investment. The first is the Ollerton Town Centre Hub which is a joint venture between Newark and Sherwood District Council, Ollerton and Boughton Town Council, Nottinghamshire County Council, and the owners of the existing Forest Centre in the town. It will see a new public sector hub with services of the Town and District Council’s complemented by a brand-new state-of-the-art library, boutique cinema, and new commercial units. The second project could support a new sustainable industrial estate in Clipstone alongside some wider sports and education facilities.

Councillor Peacock continues, “The Town Centre Hub in Ollerton will be vital in transforming the area into a vibrant and exciting place. Residents will be able to access a range of services and leisure facilities in the heart of the town and it will also offer an opportunity for local businesses to grow. We will be continuing to work closely with the Town Council and owners of the Forest Centre to develop the plans and make this happen as soon as possible.

“Hopefully this is the start of bringing more investment into the area. It is only the beginning of our ambition for the Sherwood area to make sure our high streets survive and thrive, allowing residents and businesses to fulfil their potential, and provide more opportunities for leisure, jobs and education.”

The District Council is committed to getting as much investment into Newark and Sherwood as possible and has been successful in securing more than £70million in grants that will help improve the area over the next few years. This includes £45million in Towns Fund for Newark, £20million for the Southern Link Road, more than £4million for Shared and Rural Prosperity Fund, £750k for the Accelerator Fund and £350k for the Reopening High Street Safely Fund. Thanks to this investment, and more yet to come, the district can look towards a future where opportunities for education, jobs, business and town centres can grow and attract wider audiences.

Councillor Peacock concludes, “We will not stop in getting as much funding as possible invested across our district. We will do all we can to support our residents, tenants and businesses and that is my promise and commitment to you all.”

Watch a short video from Councillor Paul Peacock here: