Medway Council has set out its revised plans to offer Innovation Park Medway a brighter future.
Medway’s Cabinet met on Tuesday, 11 March to hear the proposed plans for both the northern and southern sites, on the land close to Rochester Airport.
This follows a decision in February 2024 to pause the development at Innovation Park Medway, after the initial plans had been affected by a significant change in the market in the wake of the Covid pandemic, the way businesses work and the national financial climate.
Best long-term opportunities
Cllr Harinder Mahil, Portfolio Holder for Economic and Social Regeneration and Inward Investment, said: “In the first year of our new administration, it was vital that we pressed pause on this project to carefully review the best long-term opportunities for Innovation Park Medway. Plans for the site were put in place before the pandemic and so it was only right to take a breath and carefully consider all options now available to us.”
In a move providing a significant cost saving to Medway Council of approximately £25million – in comparison to the previous development plans – Medway’s Cabinet has agreed to push forward with revised plans for:
- a mix of industrial and mid-tech for the northern site,
- a care home and retirement units for the southern site,
- temporarily leasing land on the northern site to BAE Systems.
Cllr Mahil added: “I am pleased Cabinet has agreed the revised plans which will not only give Innovation Park Medway the most sustainable future and provide the best benefit to Medway’s economy and residents, but we anticipate the revised plans could provide a significant cost saving.
“We are putting in place the plans for a brighter future for Innovation Park Medway, based on the current market and demands from our business community. The revised plans also have our residents at the heart of our decision - the southern site will provide much needed accommodation and care for Medway’s older population.”
Infrastructure is already in place at Innovation Park Medway, with previous external and council funding being used to create the sites from what was originally part of the airport. Completed infrastructure works at the northern site include the creation of access roads, bus stops, footpaths and cycleways, drainage, utilities, lighting, landscaping and street furniture, laying the foundations for the next stage of the development. The southern site has also seen the installation of lighting, utilities and landscaping.
More information will be shared on the plans for a development partner for Innovation Park Medway later this year. Find out more details about Innovation Park Medway.