Medway Council has taken a decision to pause development at Innovation Park Medway and explore the best options for its future.
Councillors agreed the decision at a meeting of the council’s Cabinet on Tuesday 13 February 2024, to enable a thorough review of proposals for Innovation Park Medway, which consists of a north and south site.
The decision to pause development at Innovation Park Medway factored in the changes to the cost of construction, which has risen significantly in the current financial climate with raised interest rates and the impact nationally of inflation. Construction has also been impacted following the coronavirus pandemic, as has the way many businesses now work.
A further update on the future of Innovation Park Medway will be provided on this page once a preferred option has been agreed by the council, which will aim to find the most sustainable option suiting local businesses and future development needs.