Report backs developer's view of research park
Friday, 23rd July 2010.
A report on the viability of the proposed Haverhill Research Park at the western end of Haverhill has said it cannot be economically implemented without an element of 'higher-value' development being included.
The report, commissioned by Choose Suffolk, from Public and Corporate Economic Consultants (PACEC), says the concept statement which St Edmundsbury Borough Council is putting together needs to be changed.
The council has issued a draft statement which is currently out to public consultation.
The statement leaves the door open for higher-value development to be included on part of the site, but does not define how much.
Developer Carisbrooke, which now controls the land, has put forward a scheme for creating the research park based on using two-thirds of the site and developing the other third for higher-value uses, which could include retail, hotel, leisure or housing.
Carisbrooke say it will cost £4million to carry out the work required to sculpt the sloping site and install services.
PACEC's report shows that a research park for Haverhill could bring significant direct economic benefits to residents, businesses and the local and wider economy.
And it says the overall image and visibility of Haverhill would be strengthened, as would its links and interaction with the wider Cambridge sub-region, with its concentrations of high tech activity.
But it says the risks and uncertainty are relatively high for investors.
The potential solution would be to utilise the residual surplus land at the site for residential, or some higher value added use to allow the development to be pump-primed and hence move forward positively.
It concludes: "Successful development will require co-operation between the developer and the relevant local authorities, and a corresponding adjustment to the council’s concept statement and policies would help progress this and meet the overall employment aims of the council."
The report, commissioned by Choose Suffolk, from Public and Corporate Economic Consultants (PACEC), says the concept statement which St Edmundsbury Borough Council is putting together needs to be changed.
The council has issued a draft statement which is currently out to public consultation.
The statement leaves the door open for higher-value development to be included on part of the site, but does not define how much.
Developer Carisbrooke, which now controls the land, has put forward a scheme for creating the research park based on using two-thirds of the site and developing the other third for higher-value uses, which could include retail, hotel, leisure or housing.
Carisbrooke say it will cost £4million to carry out the work required to sculpt the sloping site and install services.
PACEC's report shows that a research park for Haverhill could bring significant direct economic benefits to residents, businesses and the local and wider economy.
And it says the overall image and visibility of Haverhill would be strengthened, as would its links and interaction with the wider Cambridge sub-region, with its concentrations of high tech activity.
But it says the risks and uncertainty are relatively high for investors.
The potential solution would be to utilise the residual surplus land at the site for residential, or some higher value added use to allow the development to be pump-primed and hence move forward positively.
It concludes: "Successful development will require co-operation between the developer and the relevant local authorities, and a corresponding adjustment to the council’s concept statement and policies would help progress this and meet the overall employment aims of the council."
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