The University of Northampton has struck a deal to move to a new £330m campus in Northampton town centre.
It will swap its parcel of land at Park Campus in Kingsthorpe for 50-acre plot at Avon Nunn Mills, owned by Taylor Wimpey and Persimmon. It will also purchase the neighbouring land owned by Avon Cosmetics.
Located in Northampton’s enterprise zone, the Avon Nunn Mills site is a brownfield area next to the River Nene.
The West Northamptonshire Development Corporation launched a compulsory purchase order for the site in March. However, the three main landowners have now reached an agreement with the university. With the deal agreed, the proposed CPO now only covers land required for a new road through the site.
Should the university not fulfil its various obligations under terms of the agreement within four years, Taylor Wimpey, the WNDC and Avon will have a year to start construction of an alternative mixed-use scheme. If no development has taken place within five years, the land will transfer to WNDC.
Professor Nick Petford, vice-chancellor of The University of Northampton said: “This new Waterside Campus will place us in the heart of the community. It is a hugely exciting project with an investment of more than £330m. If it progresses as we hope, we could be moving in to start ground work in 2015, with the campus opening sometime between 2018 and 2020”
WNDC chief executive Peter Mawson added: “Avon Nunn Mills has been largely derelict for over a decade, but we now have certainty that it will be redeveloped. Clearly, the university campus would have huge economic benefits for the town and beyond.”
The public inquiry into the CPO closed on 22 November and a final decision from the Secretary of State is expected next spring.
lisa.pilkington@estatesgazette.com
