Mid Suffolk District Council’s subsidiary company Gateway 14 Ltd has completed the purchase of a key site this week – unlocking development plans and a potential multi-million-pound boost for the local economy.
The 54-acre Stowmarket East site lies next to the A14 at junction 50 and immediately next to land bought by Gateway 14 Ltd in August 2018.
The land is currently agricultural but is earmarked for a new business and logistics park, with the potential to build more than one million square feet of logistics, warehousing, advanced manufacturing and business space.
The land, opposite the Cedars Park area of the town, has outline planning permission for business and industrial development, boasting ideal transport links to the Port of Felixstowe, the Midlands and the UK motorway network beyond.
The purchase of both pieces of land enables Gateway 14 Ltd to control the development of the whole site, maximising use of the land and ensuring a more ‘joined up’ development – planning and phasing activity according to market needs.
Cllr Gerard Brewster, Cabinet Member for Economy and Chair of MSDC (Suffolk Holdings) Ltd said: “The development of Gateway 14 is an exciting venture that will help Mid Suffolk’s economy to thrive – creating local employment opportunities and supporting new and existing businesses.
“We are ideally placed to attract major investors to our district and look forward to delivering significant benefits to our communities as a result of unlocking the potential of this site, as promised in our 5-year Vision for Prosperity action plan for Stowmarket.”
Gateway 14 Ltd Chairman Chris Haworth said: “This is a very positive acquisition by Gateway 14. The combined land holding provides a unique opportunity for major occupiers seeking to locate in the region, as well as excellent facilities for local businesses seeking state of the art premises.”
A shortlist of potential partners to help deliver the development has now been drawn up by Gateway 14 Ltd, with a report scheduled to go before Mid Suffolk District Council later this year. Councillors will then consider and approve the delivery model for the development.