A seaside town in Kent is to receive £22.2m of funding to give its economy a much-needed boost and help the area thrive.

The money, awarded to Thanet District Council, will be used to help the Margate community flourish by providing opportunities for those living there and make the town "realise its full potential".

The announcement was made as part of the Chancellor's Budget statement yesterday.

Margate was one of 101 places given the opportunity to bid for funding of up to £25 million as part of the government’s £3.6 billion Towns Fund.

The scheme aims to support urban regeneration, skills development and improved connectivity by giving each place its own Town Deal.

A board was created, including North Thanet MP Sir Roger Gale and chief executive of East Kent College Graham Razey, and an investment plan submitted last year as part of its bid.

In the Chancellor's budget announcement, the Thanet town was named as one of those to be chosen to receive the funds, with a number of projects outlined - including opening a cultural centre in the old Primark building and improving the Theatre Royal and Hawley Square.

Cllr Rick Everitt, leader of Thanet council, says the money will support ambitious plans to reinvigorate the town centre's economy, boost local skills and level up the visitor economy.

"This substantial investment is testament to the collective hard work and innovative thinking that went into the bid and I’d like to thank everyone who contributed," he said.

"The Towns Deal funding will not only provide a much needed economic boost as we recover from Covid-19, but also provide opportunities for each and every member of our community.

"I firmly believe that, by working together, this will provide a lasting legacy and make Margate a better and brighter place for residents, businesses and visitors."

Four themes were included in Margate's submission for funds, including the town's creative production and skills sector as well as investment in coastal wellbeing, public realm and connections, and supporting and diversifying heritage assets.

Graham Razey, chair of the Margate Town Deal Board, says they can now begin the real work to help create an even more thriving town.

"I’m immensely proud to have been able to work with community partners and business stakeholders to deliver a Town Investment Plan that has resulted in this government funding, and greatly look forward to seeing the projects get delivered in the coming months and years," he said.

"Margate is a genuinely fantastic and amazing place, and this investment will help to translate that into a town that is able to keep growing and flourishing for the community’s future."

The Government is expecting the terms setting out the financial agreement to be signed by March 24, paving the way for the next stage which is to develop detailed business cases for selected projects in the Town Investment Plan (TIP).

This process could take up to 12 months.

The funding will then be spent over a five-year period, steered by the Margate Town Deal Board. The overall programme is managed by Thanet District Council as the lead accountable body.

Some 86 projects put forward were whittled down to 38 to go through to the next stage in the process.

These include People Dem Collective's cultural centre in the old Primark building on the seafront, redeveloping Cliftonville's Lido into a centre for health and wellbeing, and opening a national seaside heritage centre.

Others are to 'rewild' the coast of Cliftonville to enhance the environment, create a market square at Arlington House, and to open a Margate Enterprise Centre to help young people start businesses.

One ambitious proposal is to turn Cecil Square into a 'leafy and attractive' meeting place with an iconic building as the centrepiece, perhaps used as a foodhall.

The plan includes redesigning the currently closed Andrew's Passage, which links the high street to the seafront, and using the vacant M&S building as a boulevard, to link Cecil Square with the high street.

Jonathan Pearson, member of the Margate Town Deal People’s Panel, says the funding will help the town realise its full potential, support residents and ensure it continues to be an exciting place to live and visit.

“Margate is a very special place with a rich history, wonderful coastline and completely unique heritage assets," he added.

"We look forward to working with the Board as we move into the next stage of business case development and creating something that the people of Margate can be proud of."

For more information about the Margate Town Deal, including project proposals, see www.thanet.gov.uk/campaigns/margate-town-deal.

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