Councils invest in creating research space

The key partners in the investment project include South Norfolk Council (SNC), Norfolk County Council (NCC), Vengrove Real Estate Management, and Anglia Innovation Partnership LLP (AIP), which manages the NRP.

Norwich Research Park is a globally renowned centre of excellence and one of Europe's largest single-site research clusters, providing high-value jobs and contributing to critical scientific areas such as sustainable food research and cognitive health improvements.

South Norfolk Council Leader, Daniel Elmer said:

“Since the inception of the NRP South Norfolk Council has invested in essential infrastructure to unlock growth and we developed the Ella May Barnes Building. Currently there is a shortage of much needed grow-on space and this shortage deters investment and risks the park losing research and development companies and the investment they bring, to other regions. The development of GB1 not only addresses these capacity constraints it also supports further growth and innovation in our district and the wider area."

The development of GB1, is expected to attract £27 million in private sector investment to fund new research and development space and drive further economic growth in the east. The development is also projected to generate an extra £17 million a year for the local economy and create 480 new jobs.

Councillor Fabian Eagle, cabinet member for economic growth at Norfolk County Council said:

“Norwich Research Park is a world-renowned facility that plays a vital role some of Norfolk’s most important sectors, from health to food production. This development will help to draw in further investment and jobs, keeping our county at the forefront of sectors with significant growth potential. I am eager to see Norfolk’s ambitions grow as we build on our reputation as hub for research and innovation, and we will continue to support projects across the county that help us to reach that goal.”

The Councils’ investment will be repaid using the £500,000 of extra business rates income generated from the NRP EZ which will be retained locally under a government agreement. This mechanism ensures that both South Norfolk Council and Norfolk County Council will recoup their capital investment plus interest.

Vengrove is the private sector partner appointed through a competitive process to develop the GB1 building. They have extensive experience in commercial real estate and are responsible for overseeing the construction and managing the property. They will also bear responsibility for any cost overruns or periods when tenants are not secured.

Planning permission for GB1 was secured in October 2023, and construction is expected to take 21 months once funding is finalized. The first phase of the grant drawdown is anticipated in the 2024-2025 financial year, with completion aimed for the following year.

The GB1 building will be delivered in accordance with BREEAM Excellent standards, which ensure the building meets high sustainability and environmental performance criteria. This is a key part of attracting high-value tenants and aligning with the green growth ambitions of the NRP.