UNEXPECTED costs in bringing a former pet shop back into use cost a developer more than £13,000 in additional expenses.
The development, which also includes the conversion of an office above the shop to a flat, was supported with a £68,924.21 from the Welsh Government’s Transforming Towns Placemaking Grant Fund approved by Torfaen Borough Council.
Additional work required as a result of the refurbishment of number 1 Market Street in Pontypool town centre included relocating a lamp post and new water and grid connections.
The council has now agreed to award developer Thomas Mounty of Iliana Developments Ltd a further £9,538.20 towards his unforeseen costs. The original grant, paid in Octoer last year, was intended to cover 70 per cent of the estimated £98,463.15 total cost.
A report by the council’s senior regeneration officer Glenn Cooper stated the property has been successfully renovated “creating new high-quality commercial and residential units in a prominent town centre location”.
The additional, unforeseen costs are the developer’s responsibility but they are entitled to request an increase in the grant funding and Mr Cooper’s report confirmed Torfaen council has available funds in its allocation under the scheme.
As a result, his report recommended the original grant be increased to £78,462.41.
The report detailed the unexpected costs amounted to £13,626 which included more than £8,000 for a new water connection, a £4,500 bill for a grid connection and £665 to move the lamp post.
The additional costs were assessed by the council’s quantity surveyor and considered reasonable while its Transforming Towns Placemaking Programme Board supported the request to increase the grant.