Proposals to create a £4.8m business hub in Kilmarnock town centre have moved forward following a funding boost, it has been revealed.

East Ayrshire Council has secured a total of £1.3m from the Scottish Government's Regeneration Capital Grant Fund (RDGF) to make the project a reality, which will see 30-38 John Finnie Street, or the Blue Triangle building, in the town to be restored and refurbished.

The B-listed property has lain empty and derelict for a number of years but has been acquired by the local authority for the purposes of redevelopment.

In addition to the funding from the Scottish Government, East Ayrshire Council's Kilmarnock Town Centre Regeneration Fund (£2.8m), and the Heritage Lottery Fund (£700,000) have also contributed to the scheme.

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Construction work is planned to start in June 2015, with the project completed and ready to open in early 2017. When the property is fully renovated, it will open as a business hub, providing an affordable, high quality premises for entrepreneurs and start-up businesses.

Welcoming the investment, Councillor Jim Buchanan, spokesperson for Delivering Community Regeneration, said: "The project will meet the identified need for modern, accessible and highly serviced units with shared common facilities such as conferencing suites and meeting rooms within East Ayrshire.

"It will provide a base for graduates from the Entrepreneurial Spark West Coast Hatchery at Dundonald, new businesses created from the start-up grants administered by Youth Business Scotland, to whom the Council contributed £200,000, and young entrepreneurs developing from the Council's School Business Enterprise Project.

"We are confident that the project will result in the retention of a valuable heritage asset whilst delivering a long term positive impact on the local community."

(JP/CD)