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Observer Building, Hastings

Client:

Observer Building Economic Case

Study objectives:


• Consider gross and net economic impacts to Green Book methodologies
• Develop a compelling economic case for investment from the South East LEP
• Derive Value for Money and Benefit Cost Ratio (BCR) returns

Bob Thust - Finance & Investment Lead

‘Thrive Economics marry high professional standards alongside a can-do attitude - demonstrating flexibility, understanding and reliability. This has made certain that the funding applications we put forward were the best they could be. Highly recommended.’

We completed a HM Treasury Green Book compliant economic case for investment to bring the Observer Building in Hastings back into commercial use.

The impact assessment considered the gross and net impacts that could be achieved through the delivery of the Preferred Option investment, set against the likely counterfactual position. We considered a range of accepted impact strands including:

• Land Value Uplift Returns
• Labour Supply Impacts
• Distributional Impacts
• Supporting Construction and Longer-term Employment and GVA impacts

We inputted to various successful economic case submissions and the building has since received a mix of Growth Deal and Growing Places Fund grant and loan funding, which has enabled the building to be restored to its former glory.

Led by a social enterprise, the iconic restored building is now serving to maximum social impact, by providing life-changing employment, enterprise support, training and social networking opportunities, alongside some new housing provision.

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