Kenny Jamieson
Associate Director, Invista Real Estate Investment Management
on behalf of Clerical & Medical
| Partners | Colchester Borough Council and Fläkt Woods Limited |
| Size | 175,000 sq ft |
| Occupiers | Fläkt Woods Limited |
| Status | Completed |
We believe imagination is the key to innovation and we applied both to the complex problem encountered by Fläkt Woods - one of Colchester's major manufacturing employers.
Fläkt Woods faced having to relocate from Colchester since there was no public money available to create a new link road into the town's only new allocation of industrial land, owned by the Borough Council. Churchmanor, Colchester Borough Council and Fläkt Woods entered into a tripartite agreement to ensure Fläkt Woods stayed in the town.
Working with Fläkt Woods and their venture capital parent company, we assumed responsibility for financing the new East/West Relief Road needed to access the proposed 13-acre industrial site. An improved residential planning consent was negotiated for Fläkt Woods' existing 40-acre freehold site. The enhanced planning value was transferred to meet a proportion of the new site's infrastructure cost.
Close collaboration between all partners enabled Colchester Borough Council and Fläkt Woods to achieve their individual ambitions.
