To receive an update on the Telford Land Deal.
Minutes:
The Director: Prosperity & Investment presented an update on the Telford Land Deal, summarising the outputs as the authority was nearing the end of the 10-year deal. Members were reminded that the Land Deal was established in 2015 as a 10?year partnership between the Council, Homes England and the Marches LEP, enabling the Council to take responsibility for bringing Homes England’s former new?town landholdings to the market, supported by an initial £19m Local Growth Fund investment. This model was designed to address long?standing barriers to development including ecology surveys, utilities constraints and planning challenges that had historically delayed the release of sites for employment and housing.
The presentation outlined how the Land Deal had continued to perform strongly. Across the full ten?year period, the programme had supported the delivery of significant new employment floorspace, the remediation and development of over 50 hectares of brownfield land and the creation of around 2,400 jobs, while generating approximately £2m in business rates and £2.5m in council tax.
Examples of key completed schemes included Hortonwood West which had delivered serviced industrial land, new infrastructure and substantial job creation, the T54 site, which continued to attract major inward investment including the multi million pound expansion of Magna Cosma, and the wider Hortonwood estate which had benefited from upgraded power capacity and had been brought to market as shovel ready employment land.
Members were informed that the Land Deal had also enabled a pipeline of major residential schemes, including 100% affordable housing sites at Newcomen Way, Majestic Way and Old Park, alongside mixed?tenure developments supported through Homes England funding. The Director: Prosperity & Investment also highlighted the completion of the 299 housing scheme at The Hem, one of the largest allocations brought forward under the Land Deal to date. In addition, the use of retained profit share had supported wider regeneration projects such as the Theatre Quarter in Limes Walk and the delivery of 24 small business units at Orchard Business Park, as well as enabling the Council to address viability gaps in emerging developments.
The Committee heard that the Council had recently taken ownership of residual liability land from Homes England, which was being utilised to support environmental enhancements including Great Crested Newt licensing, carbon offsetting and biodiversity net gain. A small number of unsold development plots remained and the remainder expected to be disposed of during the run?off period to March 2027. Homes England would lead on bringing forward the strategic SUE sites at Shawbirch and Wappenshall.
The Committee welcomed the update and commended officers for the sustained success of the programme over the past decade. Members reflected on the long-term economic benefits secured through the Deal, the increased investor confidence within the Borough, the substantial employment and housing delivery, and the Council’s effective use of retained profit share to reinvest in regeneration and infrastructure.
In response to Members’ questions, the Director: Prosperity & Investment explained that a significant proportion of the employment opportunities had been taken up by existing Telford & Wrekin businesses or residents, citing examples of local firms expanding such as Rosewood Pet Products and construction phase jobs being filled by local tradesmen. The Director: Prosperity & Investment also confirmed that financial returns remained broadly in line with expectations, despite increases in infrastructure costs. The small number of sites which remained unsold were progressing through the market or being considered for alternative use including the expansion of a local nature reserve.
Members noted the update.