Councillors have agreed to carrying out further work to help them secure more than £1million for the refurbishment of a prominent town centre building.
Grosvenor House is owned by Corby Council and provides a mixture of office and retail space to businesses to rent.
The property, which was built in the 1970s, also contains the authority’s supported housing and CCTV team.
Officers at the council found out in August that they have been successful in securing outline approval for European Regional Development Funding (ERDF) for a £1million refurbishment of the office block at Grosvenor House.
But to move the application forward, the council has to complete several tasks in order to submit a full application for the money.
A report discussed and approved by Corby Council’s One Corby Policy committee last week stated: “ERDF have given outline approval for £1.02million of funding to refurbish the office block of Grosvenor House.
“The presents an excellent opportunity to improve both the interior and exterior of the building, with minimal capital unit from the council.
“The refurbished offices will provide much needed town centre office space for new and growing businesses.”
To take the application forward, the council has agreed to complete numerous tasks, including providing a detailed design and cost analysis and evidence of demand for the office space.
Once these are completed, it is hoped the full application can progress.
The report considered by councillors said the office space has been marketed for several years, but the condition of the building inside and out has made attracting tenants difficult.
As well as the ERDF grant, there will be match funding from the council made up of £120,000 already set aside as part of the lift refurbishment with the remainder from the building value.
If the refurbishment goes ahead, existing tenants should benefit although they will have to be relocated within the building as works take place.
As part of the project, council officers are looking to review options to improve the appearance of the outside of the building, however this will be dependent on cost.
The refurbished office space will provide affordable office space for existing small and medium sized businesses and start-ups, which it is hoped will support further development of an entrepreneurial culture in Corby.
Corby Enterprise Centre is nearly full and continues to get enquiries for office space so officers believe there is sufficient market demand to warrant the space, especially given the shortage of good quality town centre space.
A new Mediterranean restaurant, Olive, is due to open where the council’s One Stop Shop used to be on the ground floor of Grosvenor House soon.
To read the report in full, go to www.corby.gov.uk/one-corby-policy-committee-8-september-2015.