University of Essex Parkside – Phase 3, Colchester
- Capital Investment - Essex, Southend & Thurrock, More than £2m, LGF3
Expected completion date
The University of Essex has a vision for the Knowledge Gateway for it to become a national centre of excellence for businesses in high-value, knowledge based sectors linked to the University’s research expertise, employing over 2,000 people. This project is intended to deliver the next logical development of the Knowledge Gateway, both providing further accommodation for growing businesses and enabling larger businesses to come to site for the first time, driving growth in the wider economy.
The project will be an extension of the Parkside Office Village on the Knowledge Gateway site which is already home to Parkside Phase 1 (consisting of 9 units), Parkside Phase 1a (consisting of 3 units) and Parkside Phase 2 (consisting of 7 units).
There are now 25 businesses located at Parkside Office Village, employing 135 people, of whom 21 are graduates or students of the University, demonstrating how the Knowledge Gateway is providing an effective mechanism for retaining highly skilled individuals within the local economy who would otherwise move away from the area post-graduation.
The Parkside Phase 3 project involves the construction of a single four-storey building with a total area of 4,772 sqm gross (51,355 sq ft), ideal for a single tenant. Each floor has the flexibility to be subdivided in a variety of ways, providing a total net floor area of 3,775 sqm (40,645 sq ft).
The University has a masterplan which includes two further identical buildings which will be constructed subject to future demand.
The strong market appetite for space within the existing and planned Parkside Office Village units demonstrates proven demand from businesses to co-locate with the University on the Knowledge Gateway and this development is a key opportunity to leverage further the University’s engagement with business as a means of securing economic growth.
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.
£570m of investment to East Sussex, Essex, Kent, Medway, Southend and Thurrock
In total the SELEP Growth Deal with Government has brought £570m 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.