Step forward for Durham strategic employment site

Plans to develop a significant site in Durham into a strategic employment district, which could create thousands of jobs, could take a step forward at a cabinet meeting next week, which is also seeking approval to proceed with the procurement of a joint venture partner.A report, which will go before County Durham’s cabinet on Wednesday 13 September, sets out, and it seeking approval of, the outline business case for the redevelopment of the Aykley Heads site.Spanning 37-acres, Aykley Heads is in walking distance of the city centre and is located adjacent to the main line railway station.Outline planning permission has already been granted on site for 414,000 sq ft of commercial floorspace for up to 4,000 jobs.The development sits within a wider 153.2-acre emerging innovation district which encompasses the new University Business School and Milburngate, and is home to firms including Atom Bank and Waterstons.The Durham City Incubator is also located at Aykley Heads, supporting university spins- outs and high growth potential start-ups and, in addition to existing outline planning permission, there is further expansion land that could accommodate an additional 2,000 jobs.As a result, the report noted that the site is a “natural home for innovative and knowledge rich businesses to create high value jobs”, adding that it is “perfectly placed to be the catalyst to develop and drive forward a Durham Innovation District”.The scheme has been a long-standing aim of the council and was first referenced in its Regeneration Statement covering the period of 2012 to 2022.In July 2015, cabinet agreed the principle of releasing the base as a strategic employment site, with a vision of creating a “new and unique business location for the North East, that maximised economy growth in County Durham and delivered new and better jobs in growing sectors in a high-quality employment location”.Approval is now being sought to test the market for a suitable joint venture partner which, the report said, “would be the best delivery model to achieve the council’s vision and outcomes”.It said: “An experienced partner would bring experience, knowledge, and accesses to networks, with their market specialisms in helping to shape, develop and run Aykley Heads as a successful Innovation District.”The report added: “A joint venture partner would provide investment finance for the project and share the risk and reward of the project with the council.”Before the council enters into any formal joint venture partnership agreement, a full business case will be brought back to cabinet.