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Innovation Park Medway – northern site extension (also known as Rochester Airport – Phase 3)

Categories

Approval status

 

Fully approved

Delivery status

 

Design in progress

Expected completion date

 

Winter 2022

The project will facilitate delivery of enabling infrastructure works across an extended area of the northern site, which will accelerate the development and deliver the desired outcomes and benefits more quickly.

This funding will allow the following works to be completed:

  • Extended access road/footpath;
  • New primary substation;
  • Secondary substations as required;
  • Utilities – gas, trenching for broadband, drainage and a water main.

Completion of these works will make the site attractive to businesses looking to relocate to Medway. The site will be actively marketed during construction of the enabling works to attract companies looking to build their own premises on the site. Businesses investing in the site will benefit from being within the Enterprise Zone and from being able to custom design their own buildings (subject to site design guide compliance). Delivery of the Innovation Park Medway – northern site extension project is dependent upon successful completion of the Rochester Airport Phase 1 project, which delivers the required enabling works to facilitate delivery of Innovation Park Medway.

Funding approval

The project was considered by the Accountability Board on 3rd July 2020 and the decision was made to approve the award of LGF funding to the project, subject to the following funding conditions being met:

  • written confirmation being received from the Medway Council S151 officer that the full funding package is in place, including the funding to deliver the IPM mitigation works to M2 Junction 3;
  • endorsement of LGF spend beyond the Growth Deal period by the Strategic Board;
  • the final third of the 2020/21 LGF allocation being transferred by the Ministry for Housing, Communities and Local Government or the Strategic Board prioritising the project for funding, should only part of the final third of LGF be confirmed by Government.

An update on the project was considered by the Accountability Board on 12th February 2021 in which it was noted that the funding conditions have now been met in full.

Investment in Innovation Park Medway

The project is part of a wider package of SELEP investment in Innovation Park Medway, totalling £11,046,823.  This funding will:

  • enable reconfiguration of Rochester Airport to release the land required for the development of Innovation Park Medway;
  • deliver improvements to the airport infrastructure to help safeguard the future of the airport;
  • bring forward delivery of enabling infrastructure, including access road, signage and utilities, required to facilitate development of the first section of the northern site of Innovation Park Medway;
  • bring forward delivery of enabling works, including access road, shared footpath/cycle route and utilities, required to facilitate development of the southern site of Innovation Park Medway;
  • bring forward delivery of enabling infrastructure, including access road/footpath, utility infrastructure and primary/secondary substations as required, on a wider section of the northern site of Innovation Park Medway to allow accelerated development of commercial space;
  • bring forward delivery of pavements and footpaths, planting, street furniture and preparatory ground works to enable realisation of the Runway Park.

For further details on the other phases of the wider Innovation Park Medway project please follow the links below: Rochester Airport – Phase 1, Innovation Park Medway – northern site (also known as Rochester Airport – Phase 2), Innovation Park Medway – southern site and Innovation Park Medway – Sustainable City of Business.

Project Update – 10 September 2021

At the Accountability Board meeting in September 2021 it was agreed that the project would be able to spend LGF beyond 30 September 2021, as it complied with the criteria, this was endorsed by the Strategic Board at its meeting in October. It was also agreed that the project could extend its completion date to November 2022. Delays have been experienced due to archaeological works onsite.  

 

Capital Programme delivery update

Take a look at our update on the delivery of the Local Growth Fund (LGF) and Growing Places Fund (GPF) capital programmes.

SELEP Capital Investment Programme

£579m of investment to East Sussex, Essex, Kent, Medway, Southend and Thurrock

In total the SELEP Growth Deal with Government has brought £579m of investment to East Sussex, Essex, Kent, Medway, Southend and Thurrock. Over the lifetime of the Growth Deal (2015-2021) we aim to deliver 78,000 jobs and 29,000 homes across the SELEP area, with the Deal set to attract a further £960m of investment into the South East over the six year period.

Find out more here
Funding value: £1,518,500
Total Project cost: £82,672,399
Return to Capital Investment