OUR VIEW ON
NORFOLK/SUFFOLK INDUSTRIAL

spring 2018

 

Norwich economy expected to grow faster than London, Manchester & Birmingham in 2018

The latest UK Powerhouse Report has suggested that the Norwich economy will grow by 1.6% in 2018, faster than London, Manchester and Birmingham.

Ipswich is forecast to grow at a faster pace than its East Anglian counterpart, expanding by 1.9%.

Norwich benefits from having a diverse economy, with specialisms in digital tech, food science and agri tech as well as the more traditional professional and financial services.

 

First stretch of Northern Distributor Road opens ahead of schedule

Two thirds of the Northern Distributor Road was opened to the public by December 2017, two months ahead of the original planned completion date.

The 8.5 miles of dual carriageway has now completed, easing pressure on the stretch between the A1067 junction at Fakenham to the junction with the A1151 at New Sprowston.

Discussions are now underway to extend the road to the west to link with the A47 at Postwick despite the estimated £25m overspend on the original project.

 

Britvic to cease production at Carrow

Works Drinks manufacturer Britvic announced that it is to close its factory to the south of Norwich city centre at Carrow Works.

Following the decision by Britvic in December 2017, Unilever subsequently announced the closure of its Coleman’s factory adjacent to the Britvic production unit.

The Carrow Works site is jointly owned by Britvic and Unilever and will see a total of 290 jobs lost.

 

Felixstowe cements its commitment to rail freight

Felixstowe became the first UK port to handle in excess of 1m TEU (the shipping measurement for containers) by rail in 2017.

Freight companies are continually looking for environmentally friendly ways to move containers and Felixstowe has set the new milestone.

Rail is an increasingly important differentiator for importers and exporters and Felixstowe has successfully established a far reaching rail network.

 

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31.5%

Increase in second hand supply in 2017

70%

Increase in rents on poorer quality stock since 2014

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