Regeneration of former Coryton oil refinery site will create 5,500 new jobs and expected to add £350 million per year to the local economy.
Thames Enterprise Park Limited, a joint venture between ALMCOR and Greenergy, has been given the green light from Thurrock Council for one of the most significant brownfield regeneration projects in the South East of England.Thames Enterprise Park will revive the former Coryton oil refinery site, initially delivering 3.7 million sq ft of advanced logistics, advanced manufacturing and next-generation energy technology uses. It will create up to 5,500 new jobs.
The development is expected to add more than £350 million per year to the local economy ultimately growing to more than £3.5 billion. It will transform 412 acres of brownfield land into a new commercial district with the first plots expected to be ready for development during 2023.
The development will have sustainability at its core and will comprise state-of-the-art construction to the highest standards of energy efficiency. It will help occupiers to deliver on ESG requirements and feature next generation energy technologies that contribute to the decarbonisation agenda.
Rupert Wood, Head of Strategic Land at ALMCOR, speaking on behalf of Thames Enterprise Park, said:
“This is an important milestone for the project.”
“Thames Enterprise Park is a once-in-a-generation regeneration project and we are very pleased to secure the support of Thurrock Council’s planning committee. The project will create 5,500 jobs and will play a transformational role for Thurrock and for Thames Freeport, bringing this former employment site back into use with up to 3.7m sq. ft of modern, sustainable business space. It will also create one of the most significant employment-led regeneration projects in the South-East of England.”
Thames Enterprise Park will play a pivotal part in the long-term success of Thames Freeport, the UK’s leading Freeport, with the site offering significant additionality for the Thames Freeport to achieve its full potential.
The plans will put Thames Enterprise Park at the heart of the decarbonisation agenda and help occupiers looking for solutions in the face of the energy transition and the climate change challenge.
Thames Enterprise Park is one of ALMCOR’s major brownfield regeneration projects. It is part of ALMCOR’s portfolio of large-scale, complex redevelopment sites where ALMCOR’s capability and expertise is making the difference in bringing strategic sites forward.