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eastern counties |


“The Council are to be congratulated on the quality and design of the recent public realm improvements, the authority’s entrepreneurial spirit and the enthusiasm of their politicians. The Panel were enormously impressed by the desire for the Council to use their land acquisitions in a more proactive way and were in general agreement about the huge opportunities that the redevelopment of these sites could provide.” Over the past four years, the borough council has invested over £8m in heritage projects in King’s Lynn, which improved significantly the character and quality of the town centre’s historic environment. This investment is complemented by a significant private sector led town centre retail development scheme, anchored by an H & M store, which is due to open later in 2018. In addition, a comprehensive programme of events organised and funded by the Borough Council, Discover King’s Lynn (the town’s Business Improvement District) and other partners is delivered annually. This is an excellent example of how public and private investment in retail, heritage, culture and leisure can work together to increase footfall and ultimately improve the vibrancy and vitality of the town centre.


ambitious growth initiative is Nelson Quay, the flagship waterfront regeneration scheme, which is a £120m mixed-use development of 436 new homes and 8,000 sqm of new commercial and leisure uses. The investment prospectus was launched at MIPIM UK in October 2017 and features in the Department for International Trade’s UK Capital Investment Opportunities promotional brochure (goo.gl/nUuYBr). Nelson Quay and the Nar Ouse Business Park Enterprise Zone represent excellent investment opportunities, which the Borough Council is actively promoting to UK and international investors and developers.


For a place to grow sustainably a successful town centre is not enough on its own - new homes and jobs are needed, so the Borough Council has taken the lead on delivering 550 homes through its Major Housing Programme, with the first phases being well under way.


Under way too is the development of 15ha of employment land on the council’s Nar Ouse Business Park ‘Space to Innovate’ Enterprise Zone (https://narouse.co.uk), which offers a wide range of benefits to potential business occupiers including a business rate discount of up to £275,000 over five years, simplified planning and access to superfast broadband. At the heart of the business park, sits King’s Lynn Innovation Centre (KLIC), a £5m award- winning business hub, which has reached an 85% occupancy rate in less than two years since its launch. Current tenants include digital, creative, R&D and IT companies. The Borough Council’s latest and most


COMMERCIAL PROPERTY MONTHLY 2018


The borough council’s growth ambitions are best summarised by Cllr Alistair Beales, Borough Council’s Cabinet Member for Assets and Corporate Projects: “building on our key heritage assets, which make King’s Lynn a unique and wonderful place, we are delivering a package of strategic projects and interventions to encourage further investment and generate long term economic growth.” A place cannot be successful without a skilled, knowledgeable and competent talent pool and this is why the borough council has contributed over £2m in recent years to revenue and capital projects aimed at strengthening the education provision in the borough. The higher education provision received a welcome boost in 2016 when the new £6.5m West Anglia University Centre was launched in King’s Lynn, a joint venture between Anglia Ruskin University and the College of West Anglia, whose construction has been entirely funded by the New Anglia LEP. All these developments and initiatives would have not been possible without the financial support and specialist advice of key strategic partners and the borough council is proud of forging strong partnerships with the Department for International Trade, New Anglia Local Enterprise Partnership, Historic England,


Heritage Lottery Fund and the Norfolk County Council and the private sector. The borough council is also proud of working with and supporting existing and new businesses and has a dedicated economic development team that offers a comprehensive package of business support services that includes accessing business grants, moving into new markets, creating bespoke business cases, assisting in the search for land and premises, helping with workforce recruitment and skills development, liaising with regulatory services, providing local market intelligence, encouraging business retention, support and growth, expansion opportunities, advice on redundancies and business closures and general information, advice and guidance.


This pro-active approach to partnership


working is key to making a place successful and is central to the borough council’s


vision of growth, as its leader, Cllr Brian Long said “public-private partnering is at the heart of our growth ambitions and essential to maximising both the investment opportunities that our area presents as well as the economic, social and environmental outcomes that will strengthen our competitiveness and attractiveness as a place to invest, work, visit, live and enjoy.”


For further information on investment opportunities in King’s Lynn and West Norfolk please visit https://www.investwestnorfolk.com/


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