Another two acres will be developed as part of Great Yarmouth Energy Park, after the Great Yarmouth Development Company, a joint venture between Great Yarmouth Borough Council and Norfolk County Council, and the owners of the Millora Works site signed acquisition contracts.
The 50-acre energy park is being established to provide businesses related to the offshore energy sector with suitable land, close to the riverport and Outer Harbour.
According to Great Yarmouth Borough Council, the park is ideally located for companies to take advantage of the business opportunities set to be generated by the East Anglia ONE offshore wind farm.
While the borough council already owns much of the land, work has been progressing to gain control of key sites within the park so they can be offered for sale or rent to growing offshore energy sector-related businesses, including offshore wind, which would then invest and create jobs.
Following negotiations with the owners of the Millora Works site, contracts for the sale and purchase of the site were exchanged on 26 August 2016, and the borough council has withdrawn its Compulsory Purchase Order, made last year to support the acquisition of the site in the public interest.
Once the acquisition is completed, the Millora Works site will be promoted to offshore energy sector-related businesses.
Cllr Graham Plant , chairman of the Great Yarmouth Development Company and leader of Great Yarmouth Borough Council, said: “With the energy park, the borough council is working with the county council to unlock space for offshore energy-related businesses to continue to relocate to, and expand within, the borough to capitalise on growing opportunities in the sector, including in the growth areas of offshore wind and decommissioning. This amicable agreement with the owners of this site allows us to now formalise plans for demolition of the old industrial workshops.”