Development Debt for Commercial Development Projects - available now!
Since its launch in April 2013, SCR JESSICA has delivered for Sheffield City Region (SCR) – it has invested over £25m and has outperformed in respect of all its financial and economic regeneration targets and with further capital investment is looking to maintain momentum in the SCR commercial property market.
To date, the Fund has committed to enable the delivery of over 500,000 sq. ft of employment space, which will provide the economic infrastructure for the employment of nearly 2,500 jobs.
What do We Do?
SCR JESSICA provides effective development debt funding for commercial property and regeneration projects in the Sheffield City Region at commercial rates and with additional capital investment from the SCR, the scope of investment is now expanding to cover a wider range of development and across the whole of the SCR.
The Fund is managed by CBRE and overseen by an advisory Investment Board that represents a partnership of nine Local Authorities and the Local Enterprise Partnership whose aim is growing the regional economy.
The objectives are to:
• Enable economic growth through sustainable development in Sheffield City Region and South Yorkshire
• Enhance long-term growth prospects and competitiveness of the region through enterprise, employment, regeneration and sustainability
• Provide the infrastructure required to generate jobs
• Utilise funding effectively that is approaching £60m