As the recovery began to take hold in the UK, many analysts were concerned that growth would be focused in key locations, leaving smaller towns of the country trailing in their wake.
Public and private sectors have teamed up to deliver significant projects says Prop-Search director Ian Harman
However, success can be achieved in these locations when there are partnerships dedicated to creating the conditions for growth. This is certainly the case in Corby which, commercial property agent Prop-Search reports, has become an increasingly attractive base for growing businesses.
A large part of this success centres around the town’s Enterprise Centre, which since its launch three years ago has provided commercial space for a total of 77 businesses and contributed £12 million towards the local economy.
The £8.3 million facility provides a range of offices and studios, which 45 businesses are currently taking advantage of, and is geared towards providing suitable, affordable accommodation for small firms and start-ups.
This has gone a long way in achieving a new record of business growth in Corby, with 157 new companies registering in the area during the first half of 2013. Year on year, this equates to a growth of 6.8 per cent which comfortably outpaces the UK average of 6.4 per cent growth.
Prop-Search director Ian Harman believes that a continued focus on growth has helped the town improve the prospects for both businesses and residents.
He says; “Work on continuing this trend of regeneration is ongoing to this day.
“Public and private sectors have teamed up to deliver projects worth more than a quarter of a billion pounds.
“The population of the town is predicted to double to 100,000 in the next 20 years and the area has recently been listed number one in the top ten up and coming areas to live.”
Due to the past few years of mounting success, investors are flooding into Corby with several major developments ongoing in the town. One of the most important in terms of employment is the infrastructure project at Priors Hall, which will see a new road link providing access to 400,000 square feet of commercial space at Priors Hall itself along with bringing back into use over 12 hectares of brownfield land primed for development.
Helical Bar, the owner of the town centre, will also make a major £10 million investment into regeneration works which will see an eight screen multiplex cinema, several restaurants and a gym constructed. This is because it believes an increase in leisure facilities is required to drive growth in the heart of the town; something which seems right on trend given the numerous similar redevelopments going on around the UK at present.
The new leisure facilities will cover outdated space such as Crown House, a section of Market Walk and an old bus station. Helical Bar hopes that, should all go to plan, the cinema will be open for business by early 2015.
Mr Harman concludes; “Corby has an incredibly bright future ahead of it.
“The population is expected to double in size, thousands of new jobs will be created by the business opportunities in development and significant new housing stock [will] become available.”
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