Funding boost for new Isle of Mull recording studio
The project is forecast to generate more than £340,000 turnover in the next three years and create three jobs within five years.
A community project to support local business on the Isle of Mull in Argyll has secured up to £250,000 from Highlands and Islands Enterprise (HIE).
The Mull and Iona Community Trust (MICT) is leading the £999,908 project, which is also being supported by the Scottish Government Regeneration Capital Grants Fund, administered by Argyll and Bute Council.
The funding will enable the group to build four new business units in the Nonhebel Park Estate in Tobermory, Mull’s largest settlement.
The new modern environmentally friendly units will help meet high demand from businesses on the island looking to expand, or from new start-up enterprises looking for premises.
The first phase of Nonhebel Park was completed in 2020, with six business units, eight lock up units, fenced compounds and 20 self-storage units.
In spite of delays caused by the pandemic, all of this was fully occupied by March 2022, supporting 20 local businesses and 49 jobs.
MICT has more than a dozen other businesses on its waiting list. To help meet this demand, this funding will enable the Trust to create four new units of 90 square metres each, and two new fenced compounds of 100 square metres each.
Morag Goodfellow, HIE’s area manager for Argyll and the Islands, said:
“There is clearly strong demand for good quality business premises for existing businesses and start-ups in the Tobermory area. This is a great project by MICT that will enable local businesses to grow, support year-round local employment, and strengthen community resilience in a rural island location. I am delighted we have been able to provide support and look forward to seeing the new units take shape.”
Moray Finch, general manager of MICT said:
“We now have the resources in place to build on the massive success of the first phase of Nonhebel Park, which achieved 100% occupancy within two years of opening, despite the opening coinciding with the first lockdowns of the pandemic. We are confident that the effect of this support will further strengthen the sustainability of our community on Mull.”
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