Boost for Fakenham
A £2.5m injection has been announced for one of Fakenham's industrial estates, topping off 10 years of work to boost business in the town. The investment will bring a raft of new business units - and jobs - to the town, and will finally see the full occupation of the Wyman's Way Industrial Estate.
A £2.5m injection has been announced for one of Fakenham's industrial estates, topping off 10 years of work to boost business in the town.
The investment will bring a raft of new business units - and jobs - to the town, and will finally see the full occupation of the Wyman's Way Industrial Estate.
The estate has been nearly 10 years in the making after North Norfolk District Council received EU funding to put in infrastructure to open up the land for business use.
The council bought seven of 10 acres at the back of the existing George Edwards Road Industrial Estate in 1998 and then spent £800,000 putting in roads and utilities infrastructure.
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Uptake had been slow, but now the £2.5m injection from Yorkshire-based investor Waverley Properties will create about six new units on 1.67 acres, to be called Wyman's Business Centre, and it will see the final, sixth, plot on the site finally bought.
“There hadn't been any significant investment in Fakenham for some time,” said North Norfolk District Council's Steve Blatch, who led the project when it was first launched.
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“Land sales had been slower than anticipated but in the last five months four have been sold.
“Waverley is creating about six units for let and the estimated investment will exceed £2.5m.
“It is a very positive investment for Fakenham.”
An event was due to be held at the estate last night to mark Waverley's investment and success in attracting investment into Fakenham, the council said.
Phase one of Waverley's development, due to be completed in July, will see a terrace of up to four units, totalling 15,500sq ft. Howden's Joinery, which has outlets in Norwich and King's Lynn, has already signed up to an 8,000sq ft unit.
Waverley was attracted to the town on the back of Howden's Joinery wanting a site. Other ventures on the Wyman's estate include a haulage yard and a factory.