Demolition works are to begin at the former Cummins factory in Stamford, as an exciting St Martin’s Park development commences in the town.
Plans were approved by South Kesteven District Council in October last year, and involved 190 new homes, a retirement village of another 150 houses, and a series of business units.
The 14.7 hectare park will also include a designated commercial area, mixed use area, as well as spots of green and open space.
Demolition works will begin shortly and continue for the remainder of the year at the Barnack Road factory, as joint landowners SKDC and Burghley Estates are committing to long term investment and growth in Stamford.
The Cummins diesel generator manufacturing plant has been vacant since it closed in 2018, with the council purchasing the site a year later. At the time, between 350 and 500 jobs were lost as a result.
It is hoped around 825 jobs could be created by this development, with more than £2.8 million a year being brought in by resident expenditure, business rates, council tax and a New Homes Bonus over at least four years.
Kelham Cooke, Leader of South Kesteven District Council, said: “This high-quality, well-designed and sustainable development will preserve and enhance the setting of this part of Stamford.
“The important mixed-use development will bring significant benefits to the town and wider area, providing new employment opportunities and homes for the town and district.
“We are really pleased to have reached the next phase of this collaboration which supports our vision for the area and are proud to be creating a legacy for future generations, while protecting our strong heritage.”
Miranda Rock, Burghley House director, said: “We are delighted to be taking important steps towards creating a development which will bring huge benefits to Stamford and the wider economy.
“We will ensure the St Martin’s Park development delivers sensitive and sustainable mixed-use amenities that work for the whole community.”