The Nottingham Enterprise Zone was announced with much fanfare by David Cameron at Alliance Boots in March 2011 as a means to stimulate economic activity. The Boots campus was identified as one of 4 sites included within the Nottingham Enterprise Zone, alongside Beeston Business Park, MediPark at the QMC and No2 Nottingham Science Park. Enterprise Zone status conveys significant business rate discount opportunities, provision of superfast broadband, a simplified planning regime and prioritisation for regeneration funding.
August this year saw a major step to realising the significant development opportunities presented by the redevelopment of the surplus land and property within the Boots campus with the submission of two planning applications – an overall master plan, but perhaps more significantly details of a package of infrastructure works that will help to open up the development opportunities. The master plan allows for up to 82,000 sq m of new business space and up to 675 residential dwellings set within a landscaped environment to be developed out on a phased basis. This development can however only be realised by the implementation of a fully funded £22m package of works that will create a new public road linking Thane and Humber Roads, a new canal bridge, as well as service diversion and extensive flood defence works. Tendering for the works will commence shortly with the works due to start on site early in 2015.
Boots have been based in Nottingham for over 160 years and have had their HQ at Beeston since 1927. They currently employ over 8,000 in Nottingham. Following the recent takeover by US giant WalGreens that should open up new markets for the company and with the redevelopment plans just announced this should help to consolidate the Boots presence within the city for many years to come.
Many cities claim to major in life sciences but few cities can match Nottingham city region’s heritage. Not only is Nottingham the home of Boots but also to another 1,400 companies in the life sciences and medical sectors, to Nottingham Universities Hospitals Trust – one of the largest teaching hospitals in Europe, to BioCity and to 2 world class universities. Such unique advantages offer a research base, the skills and experience and a supply chain as well as a route to market that is unsurpassed by any other city.
The opportunities presented within the Nottingham Enterprise Zone, at Boots and elsewhere, will start to come on stream next year and our collective challenge is to attract quality occupiers and investment that builds upon our inherent advantages.