Fast-growing cities, attractive commercial development sites and growing Enterprise Zones make Norfolk & Suffolk ripe for investment, key property industry figures are to be told.
Norfolk & Suffolk Unlimited – the new brand for the region – will be showcased at MIPIM, the UK’s leading property event, as part of a concerted campaign to attract new investment.
An estimated 2,300 property professionals from around the world will attend the re-energised MIPIM summit, which is being held at Old Billingsgate in London on Monday 14 and Tuesday 15 October.
Ipswich was listed fourth and Norwich eighth in the UK in a recent report forecasting future growth from 2016 to 2036, pointing to a bright future for companies looking for development opportunities.
Significant investment is already being attracted to growth locations such as Ipswich, Norwich, Great Yarmouth, Lowestoft and King’s Lynn and along busy transport routes, maximising the opportunities around London, Cambridge and Felixstowe.
Large-scale industrial, warehousing and office development opportunities exist along the global trade corridor of the A14 and the Cambridge Norwich Tech Corridor offers science park, office, industrial and residential development potential.
A massive £133 million in private investment has been unlocked by the 16 Enterprise Zone sties across the two counties which offer business rate discounts, simplified planning and superfast broadband.
There is also huge interest in Great Yarmouth, Lowestoft and other coastal areas due to growth in key sectors such as offshore wind, ICT digital and agri-food.
Six sites will be specifically marketed at MIPIM:
- North Quay/Conge, Great Yarmouth
- Hornbill Business Park Enterprise Zone, Beccles
- Norwich Research Park
- Snetterton Heath, A11
- Western Way, Bury St Edmunds
- Nar Ouse Enterprise Zone, King’s Lynn
Doug Field, chair of New Anglia LEP, said: “Norfolk & Suffolk’s economy is one of the fastest growing in the country and it is a diverse region rich with opportunities for property developers and investors. Rents and rates here are better value than in many parts of the UK, we have excellent connections to London, Cambridge and overseas markets and our Enterprise Zones deliver a package of benefits, including a business rate discount of up to £275,000 over five years.
“A new Local Industrial Strategy has been developed, a new brand launched and the high growth we have seen is forecast to continue, so there has never been a better time for companies to invest in this region.”
Norfolk & Suffolk’s buoyant economy has driven economic success in the construction and development sector. The Construction Industry Training Board (CITB) is based at Bircham Newton in Norfolk and the sector has an emerging specialisation in modern construction and sustainable design, with the Fabric First Institute at Easton & Otley College.
The sector employs around 70,000 people, supporting more than 10,000 businesses with major opportunities such as the UK’s largest urban extension in Broadland.
Norfolk & Suffolk Unlimited will be exhibiting at Pod P1 on the first floor of Old Billingsgate where a team will be available to provide potential investors with information about the region and specific sites.
A business brunch on Tuesday 15 October will meanwhile focus on Norwich and Ipswich as fast growth locations and developer Chancerygate will give its perspective on investment in the region.
You can find out more about development and investment opportunities and download our brochure at www.newanglia.co.uk/inward-investment