Plans to invest in and improve Norwich Airport Industrial Estate (NAIE) are to be considered by Norwich City Council and Norfolk County Council later this month.
The site, jointly owned by the two councils, currently provides a gross income of £1.05m per year with 60 per cent going to the county council and 40 per cent to the city council.
However, both councils recognise the site has an opportunity to deliver some new industrial units on vacant land.
The work planned will enhance the estate, provide space for businesses to grow and new companies to move into. Investment in the estate would be a positive development for our existing tenants and would help to give the area a greater profile.
Plans currently being considered include:
• The creation of a Southern Development Zone with 20,000m² of light industrial units.
• The creation of Western Development Zone which includes an International Aviation Academy and an Advanced Manufacturing Innovation Centre.
• Regeneration work to some existing buildings and demolition of redundant units (where vacant).
• Improved estate branding.
• Development of residential units (in land allocated for housing).
Paul Kendrick, Norwich City Council’s cabinet member for resources, said: “The airport industrial estate is a significant asset for both councils.
“While we’re very mindful that there are many successful businesses operating out of the site, we need to explore new forms of investment so we can redefine it and tap into its full potential.”
Councillor Keith Kiddie, chairman of Norfolk County Council’s business and property committee, said: “The Airport Industrial Estate is a significant asset that could generate four times more income than it does currently. It’s in a prime location and will benefit massively from the NDR when it opens early next year.
“The Norwich industrial market is currently performing well and demand for stock has been on the rise since 2012. We’ve also seen rents rising since the end of 2015 so we need to make sure the site offers good quality space that meets the current market demand and also ensure we can compete with other local schemes.”
The 564,920m2 site currently offers 120,000m² of floor space – of which 90 per cent is used for light general industrial/warehousing with the remaining space being devoted to office use.
Norwich City Council’s cabinet will discuss the report on 11 October. Norfolk County Council’s business and property committee will consider it on 18 October.