2008 Kent Property Market THE ANNUAL GUIDE TO INVESTMENT & DEVELOPMENT IN KENT
Medway Innovation Centre

Thames Gateway Kent

The Thames Gateway is Europe's largest regeneration project covering 40 miles of the Thames Estuary from London Docklands to Southend in Essex and Sheerness in Kent.

Kent Thameside

Kent Thameside, encompassing the boroughs of Dartford and Gravesham and Ebbsfleet Valley, will benefit from the new high speed rail service taking passengers from Ebbsfleet International Station to London St Pancras International Station in just 17 minutes from December 2009. With a £2bn investment in Kent Thameside, a dynamic offering is already taking shape, with 6,900 companies already doing business in the area and 25,000 new homes and 50,000 jobs planned in the next 25 years.

People moving to Kent Thameside are attracted by a wide range of new homes, the rich riverside heritage and existing communities in Gravesend and Dartford. New housing developments include Countryside Properties and Land Securities' joint venture at Springhead Park close to Ebbsfleet International Station, a 400 acre mixed-use development offering over 600 new homes and the first community in the UK with "Fibre to the Home" built-in fibre optic technology.

Progress continues at The Bridge at Dartford, with the first homes already occupied and the Nucleus Innovation Centre opened. The Bridge residents enjoy free travel on the Fastrack Bus Rapid Transport (BRT) system, connecting them to Kent Thameside's town centres and developments.

The £100m regeneration scheme at Gravesend's Heritage Quarter is underway, revitalising both the riverside and the town centre. The scheme is set to bring more than 1,000 new jobs, up to 929m2 (10,000ft2) of office space and 11,148m2 (120,000ft2) of retail space. A masterplan for Gravesend's transport quarter is also underway with the aim of delivering an integrated transport interchange to handle increasing flows of traffic.

Dartford Borough Council, backed by over £20m of government funding, is committed to regenerating the town centre over the next 10 years. Some schemes are already underway, including Central Park,which is undergoing extensive restoration.

Medway

Medway's 20-year regeneration programme, now valued at £6bn, is advancing quickly despite the recession. In central Chatham the road system is being remodelled to improve traffic flow and open up the waterfront for new homes, shops and a major arts and entertainment venue. In July 2009, the Sir John Hawkins flyover in Chatham was demolished - 500 tonnes of steel and concrete – releasing key regeneration sites.

There are plans for a £5m bus station, one of the most modern in Britain, to replace the one currently at the Pentagon shopping centre. Rochester Riverside is cleared, flooddefended and ready for a new community of some 2,000 homes. Work has been delayed due to the economic situation but regeneration unit Medway Renaissance is working with Crest Nicholson and others to progress the scheme. Another key site is Temple Waterfront. Lafarge Cement, which jointly owns the site with Medway Council and Morgan and Company, applied in spring 2009 for outline planning permission to build 620 homes and up to 12,300m2 (132,348 ft2) of mixed-use employment and retail floor space, creating up to 250 jobs. The scheme would result in £100m of private sector investment.

A key source of skills for Medway's future is its thriving university campus at Chatham Maritime, where there are now more than 10,000 students, many on courses aimed at growth sectors such as IT, creative and business services. Medway Innovation Centre, one of Britain's best start-up bases for high-tech businesses, is attracting strong interest in its new phase-two building.

The architect Sir Terry Farrell, the Thames Gateway's design champion, has published a visionary report for Medway. In 'Five Towns Make a City' he describes how Chatham, Rochester, Gillingham, Strood and Rainham have the potential to become the "new city of the Thames Gateway". His report concludes: "Medway has an exceptional geography, a rich heritage, a dynamic creative population and a resurgent economy. These are powerful ingredients."

Swale

Swale’s regeneration activity is focused around Sittingbourne and the Isle of Sheppey. Sittingbourne and Faversham will both benefit from high speed rail services.

The Northern Relief Road will reduce congestion in central Sittingbourne, open up development in the town centre and to the north and improve access to Eurolink Business Park. Work starts in autumn 2009 and will complete in 2011. The Rushenden Link Road on Sheppey will connect the new planned development at Queenborough and Rushenden to the A249 and will be completed by 2011.

Development at Queenborough and Rushenden will result in 2,000 new homes, social, leisure and community facilities including a new school, a new marina and 180,000m2 (1.9m ft2) of additional employment space. A range of environmental and community projects are underway and the first major employment site has been let to Aldi. Sittingbourne’s town centre masterplan to extend retail, improve leisure facilities, provide up to 3,000 new homes and offer access to further and higher education is almost complete. A new bridge over the railway line will link existing and new communities to the north with the centre of town, and a new green link will connect the town centre, Milton Creek and the Swale Estuary.

Kent Science Park is home to more than 80 companies employing over 1,000 people mainly in biopharma and life sciences. In September 2009, planning permission was granted to extend the park by 4 hectares, including up to 12,000m2 (129,170ft2) of business space as well as a further two technology units. This development should eventually create a further 500 jobs.

The owners of the Port of Sheerness, one of the UK’s most significant ports in fresh produce, timber and automobile imports, are working up expansion and regeneration plans. Several successful community and environmental projects have been implemented with further opportunities to realise the potential of local maritime heritage.

There are new commercial developments on Whitstable Road in Faversham and emerging proposals for the regeneration of the town’s historic Creekside.