21/12/2023 - Permalink

Promising early interest in Oswestry Innovation Park

Related topics: Community / Economic growth

Oswestry’s Innovation Park promises to be a much sought-after location for businesses, with three plots already reserved by enthusiastic buyers.

A recent Shropshire Council Cabinet meeting highlighted that although work has not begun on the site itself, negotiations are already in progress to sell some plots off-plan. This aims to attract investors and reduce construction costs.

This early interest has meant that the initial phased approach to building the park’s infrastructure has been re-thought, and the plan is now to develop the entire site at once. This will not only encourage further plot sales but also meet the high demand for commercial space in the area.

Responding to inquiries during the meeting, Councillor Mark Jones, Shropshire Council’s Cabinet member for growth and regeneration, emphasised the substantial interest from businesses eager to contribute to Oswestry’s economic growth.

He said:

“Now the bridge is in place, we can start on the innovation park. We are very keen to attract the right businesses for Oswestry and hope to generate around £42 million for our town.

“We’ve also got a key investor who wants one of the end sites.”

Councillor Jones said that negotiation of the three plots has resulted in potential changes to the park’s layout to accommodate a shorter spine road. This will allow the purchaser to acquire all three plots together meaning cost savings on construction and increased revenue for the council.

Councillor Jones added:

“This is a fantastic project and, unsurprisingly, there has been a great deal of interest from local businesses looking to relocate and from Investors in an Electric Vehicle Charging Hub on the site”.

Following the installation of the footbridge connecting the project to the town, to meet planning requirements,  the council aims to start infrastructure works in spring 2024, bringing forward serviced employment land plots by early 2025.

Shropshire Council hopes the scheme will create over 1000 jobs, with the construction phase fostering local trainees through training, apprenticeships, and educational opportunities.

The development was granted outline planning permission in June 2021. It includes 10 commercial plots, featuring a mix of office and light industrial buildings.