A multi-million pound project to improve and increase capacity at Oakham Enterprise Park has been cancelled for the foreseeable future.

In December 2017, Rutland County Council's Full Council agreed proposals for approximately £2.2m to be invested at the 25-acre business park in Ashwell Road, currently home to more than 100 commercial premises.

These proposal included infrastructure works, to develop a new access road and improve existing road infrastructure, and construct two new buildings to provide additional accommodation for prospective tenants.

But, since the council decision was made, the cost of completing the works has escalated and there is now no business case for the project to continue.

A Rutland County Council spokesman said: "Since the council's approval, further feasibility and design work has been undertaken to assess the viability of the project.

"This identified that in today's environment the cost of works would now be in excess of £2.8m, which outweigh the overall rate of return on the site."

However, the spokesman added that the project is under continuous review and might be resurrected in the future.

"Should a prospective tenant that is able to meet market rental rates be identified, the project would be revisited," he added.