Delight as Loughborough Lands Portas Cash

LOUGHBOROUGH is in celebration mood today (WED) after receiving a £100,000 cash injection from retail guru Mary Portas.

The town is one of 15 in the country to each receive £100,000 under the Portas pilot scheme to re-invigorate the high streets of the country.

The second round of winners in the Government-funded scheme was announced early this morning (Wednesday).

After the disappointment of losing out in the first round back in May, a revised application was submitted for the second round – and it proved to be a successful one.

Roger Perrett, chairman of Loughborough Business Improvement District (BID), said: “We are absolutely delighted by the news and so proud of the team which worked hard on the submission.

“We are joined together as a ‘Town Team’ and this is very much a collaboration with other partnerships in the town and each one of these relationships is vital for its future prosperity.”

Mr Perrett said the Portas cash would be used for a number of initiatives including market start-ups, generating interest in vacant units, ‘retail masterclasses’ where Loughborough University will offer training and support for new and existing retailers, and mentoring on social networking.

The University will also be involved in research to gain a greater insight into further developing Loughborough’s catchment areas.

The Portas cash is being matched by BID Loughborough, the University, Charnwood Borough Council, the Local Sustainable Transport Fund and Leicestershire County Council. It will bring the total amount of money being spent on improving Loughborough to £275,000.

Councillor David Slater, leader of Charnwood Borough Council, said: “This investment in our town benefits not just the town centre but the whole local economy. When the town centre prospers, the whole town prospers.

“This news is a vindication of all the hard work that has been put into making Loughborough town centre a thriving shopping destination thanks to our thriving markets and the work of BID Loughborough.

“We have outlined in our Corporate Plan that we want to ensure that Charnwood continues to be a prosperous and innovative Borough which embraces enterprise.”

Loughborough will also receive a tailored package of support from Portas and Local Government Minister Grant Schapps, who described the cash as a “golden ticket” to demonstrate the ambition, enthusiasm and imagination needed to help the high street thrive.