Annex B Enterprise M3 s Growth Centres and Step-up Towns

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1 Annex B Enterprise M3 s Growth Centres and Step-up Towns A Key Growth Centres 1 Woking Woking has a proactive approach to economic growth and inward investment and has strong green credentials and reputation. Significant amounts of A-class office floor space are currently being marketed in the town. The borough is home to a large number of global headquarters and is recognised as the location of a nationally significant technology sector cluster, including the McLaren Group. There is significant business investment planned in the area, including the new McLaren Applied Technology Centre which will provide 60,000 sq metres of workshop, prototype manufacturing and testing space. Part of the new building is dedicated to education and training. There are also considerable plans to regenerate Woking Town Centre. This includes 2,500 new homes as well as improvements to the public realm, retail, office hotel and amenity offer. Through this town centre focus, Woking will continue to be a beacon of sustainable, modern urban living and working. Woking has excellent transportation links to London - Woking Railway Station is one of the busiest stations in the London commuter belt. Woking also benefits from a RailAir bus service to Heathrow Airport. Similarly to Guildford, Woking s economic growth is being held back by the high levels of congestion around the M3 motorway, due to a significant amount of out commuting. Woking is also one of the most unaffordable towns in the country. Private rent is around 53% of average take home pay and there is a desperate need for affordable family housing. There are pockets of deprivation in Woking, particularly in Maybury and Sheerwater.

2 2 Guildford Guildford is rated as one of the UK s top performing non-metropolitan boroughs and is the primary employment centre in Surrey. Economic growth has come primarily from high value business sectors, many of which are global in reach. The area is characterised by high-tech, high potential clusters, including a well established computer games cluster and emerging focus on niche sectors such as nano-technology, life sciences and 5G technology, including Electronic Arts, Kuju Entertainment and Media Molecule. Other key employers in the Borough include Ericsson, Allianz and Avaya. The economy continues to be differentiated between a small number of very large firms and a much larger number of small and often micro businesses that employ fewer than 10 staff. Guildford is home to the University of Surrey, a top-ten university which is becoming an increasingly important driver of economic growth in the area and offers considerable potential for future growth and inward investment linked to these developments. Guildford also has one of the strongest retail offers in the South East, drawing in shoppers from all over the region. However, the town also has one of the highest average house prices in the UK outside of London and suffers from congestion at peak times, particularly on the A3 and M3. There are considerable opportunities for further economic growth in the Guildford area, which are focused on the potential of the university and research park, but extend into the town centre: Surrey Research Park is recognised as one of the most successful in Europe, with 120 companies with strong track record of attracting private equity and FDI. University of Surrey academic growth is focused on space faculty, development of world leading 5G Centre, new state of the art centre of excellence for veterinary research and teaching at the university, development of medical school in 5-10 years, creation of world class business school; Developing the existing strong and vibrant high end retail offer; and Strong equity finance and business mentoring landscape. However, Guildford s economic potential could be diminished without adequate investment in business critical infrastructure including commercial land and premises for a range of business types and also town centre regeneration. Therefore, the economic challenge is to provide infrastructure that will unlock the unrivalled potential of the Guildford area, with the aim of creating an area that is truly internationally competitive. Improvements to the Guildford A3 Strategic Corridor and to the North Downs Line are strategic priorities alongside a package of interventions for the area including a mixture of new projects that are transformational and some interventions that build on existing strengths. This approach will help to: Improve connectivity between Guildford and Woking and the wider Enterprise M3 area; Increase the attractiveness of the area as a place to do business; Improve connectivity between clusters and labour markets; Develop well connected housing and labour markets; and Make more effective use of local resources to meet needs by ensuring that public and private partners work closer together to target resources more effectively.

3 3 Basingstoke Basingstoke has a buoyant and resilient economy, surviving the recession well as a result of the diverse business base in the town. The town is home to major employers including Sony, AXA Wealth, Fife, Sainsburys, Barclays, Shire Pharmaceuticals, Eli Lilly, the AA, Mars Drinks, De La Rue, Motorola and Fujitsu. Basingstoke has been ranked as the number one place in the UK for the digital economy by the National Institute of Economic and Social Research (NIESR), and is also recognised as an excellent place for inward investment by Local Futures, which ranked Basingstoke as being in the top three local authority areas in the country to base a business in as a result of the high levels of productivity, excellent business survival rates and the number of knowledge driven businesses based in the area. There are considerable opportunities for economic growth in the Basingstoke area, building upon Basingstoke s strengths which include: A large number of successful and growing companies based in the area, offering a comprehensive supply chain Access to a highly skilled workforce (37,000 people within the travel to work area are educated to Level 4). Outstanding connectivity to London and the rest of the UK through its position on the M3, A34 and A303 and close proximity to the M4, as well as the main line to London Waterloo offering direct rail services to London. The town is also well located for the south coast ports and four international airports Great opportunities for commercial development for offices, industrial units or distribution centres as a result of current regeneration schemes and land availability A flexible, proactive council able to offer excellent deals and incentives as the major commercial land owner in the town A business consultation event held in March 2013 showed that 82% of businesses believe that Basingstoke is a good place to do business with 83% planning to keep their business in Basingstoke for the foreseeable future. The biggest barriers to doing business in Basingstoke were identified as: ICT/broadband Housing supply Transport congestion Workforce skills Supporting and developing the economy is Basingstoke and Deane Borough Council s top priority. The council is able to drive economic growth through its position as the major landowner in the town which enables the council to offer flexible terms and negotiate incentives to attract new employers. The council has been ranked number one for financial resilience and has a large economic investment programme. This programme has already led to the regeneration of the Malls Shopping Centre and the council is currently regenerating Basing View Business Park, in partnership with Muse Developments. As part of this regeneration Basing View has recently secured investment from John Lewis and Waitrose, and Network Rail.

4 4 Farnborough Farnborough is known internationally for aerospace research and is home to the Farnborough International Airshow and TAG Farnborough Airport, a world-class private aviation facility. The Airport is linked to a cluster of businesses in the aerospace and space sectors and plays a very important role as a driver for economic growth and boosts Farnborough s reputation as a world class aerospace centre. Farnborough is home to a number of major high-tech employers including BAE Systems, QinetiQ, Fluor and the BMW Group UK. Farnborough Technology and Innovation Centre is home to a number of major companies and provides a sophisticated research facility, while IQ Farnborough is located on the edge of the town centre and offers a high calibre business environment, including space for a range of companies from start-ups in serviced office space to large scale bespoke buildings designed by award-winning international architects. In a similar way to the other key growth centres in Enterprise M3, Farnborough has excellent connections by road and fast connections to London by rail (34 minutes to London Waterloo) but suffers from congestion problems, especially near the M3. Farnborough town centre lacks a broad range of retailers and experiences a leakage of expenditure to other retail centres. However, significant redevelopment is underway to revitalise the town centre. St Modwen s 80 million regeneration of Farnborough Town Centre is now being brought forward in four phases and includes the creation of new retail and residential space. The first two phases are now complete and include a new Sainsburys, Travelodge, JD Wetherspoons and The Gym plus the creation of retail space for Starbucks and New Look. Improvements to the Kingsmead shopping centre are underway with new restaurants and a seven screen Vue cinema is due to open in summer 2014.

5 B Step-up Towns 1 Aldershot Aldershot is located within the Borough of Rushmoor and is best known as the home of the British Army. Aldershot has been identified as a Step-up Town as a result of the MoD reconfiguring its estate to release about 250 hectares of land for one of the largest brownfield regeneration schemes in the south east of England. The Aldershot Urban Extension will provide up to 3850 new homes and economic growth, starting in The development, known as Wellesley, offers a unique opportunity, both for the town and beyond, bringing new families and individuals to the area and it will be important to exploit that opportunity. It will also stimulate housing and economic growth during the construction phases. Aldershot is a strong location for industrial uses, and many of the industrial units are well let. The town centre is under-performing significantly and in need of additional investment and reconfiguration to reflect current and predicted future shopping trends. It does, however, have a strong leisure offer, such as the Westgate Leisure Development, which opened in October The development, which has provided a multi-screen cinema and family restaurants, should be seen as a launch-pad for further investment. While there are affluent areas within Aldershot, the town also faces challenges relating to deprivation, particularly in the North Town and Aldershot Park (Heron Wood) areas.

6 2 Whitehill and Bordon Whitehill and Bordon is located in East Hampshire, on the edge of the South Downs National Park and has grown around the Ministry of Defence s (MoD) presence. The MoD is set to relocate by 2015 and this has created an opportunity for a once in a lifetime large scale regeneration project. The departure of the army will lead to a significant decline of economic activity through the loss of businesses and 2000 jobs. For this reason, Whitehill and Bordon has been identified as a Step-up Town. Whitehill and Bordon provides one of the largest sites for housing development in the Enterprise M3 area (with the potential to deliver 4000 new homes) but it is also important that investment is focused in this Step-up Town in order to mitigate against the departure of the MoD in Re-development and coordinated activity is required to prevent the town becoming a dormant commuter village. The interventions proposed for Whitehill and Bordon will free up approximately 230 hectares of land for new housing, employment, leisure and educational uses framed around an outstanding natural environment. It is estimated that 5,500 employment opportunities will be created and this will be achieved through the following three strands of activity: Realising the potential of entrepreneurs and start-up businesses Helping existing local companies to grow and develop Attracting new investment from companies. The new jobs will come from: 1,400 jobs from existing businesses 400 jobs generated through home-working 550 public sector jobs 3,150 jobs from new inward investment (requiring some 350 new businesses locating in the town) It is anticipated that 1,270 new homes will be built between , with an additional 1,422 homes constructed by The timing and provision of key social facilities, such as the new secondary school, will also be brought forward during this time to meet the needs of new residents. The expected completion date for the new town is 2033, with further residential development, expansion of employment uses, an additional primary school and the creation of sports and commercial leisure facilities planned for after 2025, supported by the critical increase in the population of the town. The economic regeneration of the town is a key priority and work is being carried out to accelerate development of both houses and jobs in advance of the MoD withdrawal in order to stimulate growth and prevent decline. Sites coming forward before 2015 include Quebec Park (100 new homes and a community enterprise centre) and Louisburg Barracks with potential for up to 500 homes and major commercial space.

7 3 Camberley Camberley is a Step-up Town in Surrey Heath Borough. The Borough Council and partners have published a radical vision to transform the town into the destination of choice for business and residents. Plans for the regeneration of Camberley town centre, and in particular the A30 London Road frontage, will see the delivery of 41,000 sqm of prime retail space. Alongside the addition of a major anchor store, this will transform the Camberley offer and turn it into one of the major attractions in the region. There are significant opportunities that support this vision, given that 40,000 homes are proposed over the next 10 years, which will be located within 30 minutes of Camberley town centre, including major sites such as the Deepcut development. Part of the ongoing work includes addressing the barriers to growth and improving the road and rail infrastructure. A busy and vibrant town, located in a prime location between the M3 Motorway and A30 trunk road, Camberley recognises the need to improve access as it continues to develop into a destination of choice in the region and, has set out its plans with the publication of its Town Centre Statement. As well as needing road improvements, rail access from Camberley to London is poor. There are schemes to improve journey times and improve connectivity to the rest of the Enterprise M3 area and the Town Centre Statement sets out how rail access can be improved. There are opportunities for firms to relocate in Camberley through the regeneration plans for the town, including the reconfiguring of office premises and planned rail improvements. As a recognised Step-up Town, Camberley will continue its upward trajectory. Plans are also being developed to improve the infrastructure of Frimley, Camberley s neighbouring town, which, in Frimley Park, boasts the number two performing hospital in the country. Targeted development and intervention could see the establishment of a health related cluster in the Frimley area.

8 4 Andover Andover is a Step-up Town in Test Valley Borough and is unique within Enterprise M3 in that much of its infrastructure was developed to cater for a population of 48,000 compared to its current 42,000. However, Andover is growing rapidly with 5,000 new homes currently underway which will see the town grow to a population of 60,000 by Andover is a historic market town whose town centre is adapting to the many challenges of modern retailing. Andover town centre is the subject of an initiative to strengthen its offer (Andover Summit) and make further physical improvements required to the built environment. Andover has a long tradition of engaging with its major employers including the Ministry of Defence, Stannah Stairlifts, Twinings and Simply Health. Distribution and logistics is also a growing sector in the town which reflects its excellent location and transport links. Andover s resident workforce is strong in skilled trades, plant and machinery operations and administration, reflecting its industrial base. Compared to other Hampshire towns, Andover s housing and labour markets are relatively self-contained, with a high proportion of residents working locally. Test Valley s Long Term Economic Strategy (LTES) identified labour force skills as a key issue, with comparatively lower skills and qualifications. The future workforce is in danger of missing out on local employment opportunities. A major action around skills infrastructure (including vocational skills) is needed and being developed to address these concerns.

9 5 Staines-upon-Thames Staines-upon-Thames and its immediate surroundings within Spelthorne Borough display some unique characteristics beyond those exhibited by Step-up Towns and key growth centres. The Borough is home to an incredibly high concentration of company headquarters, including BP, Imtech UK and Wood Group Kenny, along with over 4,500 other businesses, with a large proportion in four main sector groups: professional, scientific & technical, construction, information & communication and transport & storage. These companies are attracted by the proximity to London, and in particular the excellent transport connections, including access to national routes, including the M3, M4 and M25, and to Heathrow. The 2013 UK Competitiveness Index ranks Spelthorne 13th nationally and shows significant improvement in ranking from the 2010 analysis. This reinforces the high degree of potential within Staines-upon-Thames and that the wider borough is on the cusp of becoming a real centre for enterprise and investment. However, the Borough faces a number of economic challenges. Skills attainment is below the Surrey average, with 20.4% of people in Spelthorne aged 16 and older having no qualifications. Unemployment is also higher than the Surrey average, standing at 1.5%. Over 8% of Spelthorne residents work at Heathrow airport and any threat to the continued operation of this organisation would have catastrophic effects in the area. Whilst the town centre is relatively modern, there is a need for continued redevelopment, including enhancing the service offer to support the large multi-national companies based in the area. This includes provision of hotels, improving the retail sector and developing the night-time economy. Recent expansion at BP sees a Learning Centre opening in spring 2014 which will provide training for large numbers of staff who will visit this location from around the world, creating further demand for hotels and leisure. The Enterprise M3 Commercial Property Study has also identified a number of opportunities through key market ready sites within Staines-upon-Thames.