Avison Young has been appointed to provide development consultation and subsequent management of Innovation Park Medway for Medway Council and Tonbridge & Malling Borough Council. Innovation Park Medway is a new location for high-value technology, engineering, manufacturing and knowledge-intensive businesses looking to grow in the South East. The Park is one of three North Kent Enterprise zones, making it an ideal place for new and expanding organisations to do business.
Avison Young will initially provide Real Estate Management support across three stages of the Park’s development. This includes development of the initial strategy, setting out the vision and objectives of the Park, as well as collating information for prospective occupiers; and the provision of a professional management service for buildings and public realm once the development is complete.
The Innovation Park Medway masterplan, designed by LDA Design, aims to strengthen the performance of the local economy, create jobs to secure growth and realise the area’s potential whilst ensuring the long-term operating future of Rochester Airport. Split across two phases either side of the runway, the 24.7-acre site is set to be home to 34 plots, outdoor workspace and plentiful car parking, offering state-of-the-art facilities for research and development.
Building has commenced on the infrastructure elements, including access roads and utilities on the southern side of the site. These are due to be completed in spring 2022 with the first buildings completed in mid-to-late 2023, and the first units and companies moving in by early 2024. On the northern phase, works are expected to finish in early 2023 with the first firms arriving in mid-to-late 2024.
Caroline Pooley, Principal, Real Estate Management at Avison Young, said:
“Attracting world-class occupiers calls for best-in-class advice, set up and service provision at every stage of a new development. Our industry expertise and practical learning from years of managing estates and parks for both public and private clients ensure we can support of the Council with the optimum advice not only from a property perspective but with a broader approach that has people and community impact at the centre.”
Leader of Medway Council, Cllr Alan Jarrett, said:
“I am pleased that we have appointed Avison Young to manage Innovation Park Medway. The pioneering business park will provide fantastic opportunities to help businesses grow as well as the infrastructure they need to succeed. Medway is one of the most promising growth areas in the south-east and IPM will help Medway’s businesses continue to thrive.”