£50m Norwich city centre development gains planning approval

Permalink: £50m Norwich city centre development gains planning approval
by Lin Freestone

Targetfollow, a commercial property investment and development company specialising in major opportunities in city centres, has received the backing of Norwich City Council for its plans to transform a neglected corner of Norwich.

A former electricity board site will be demolished to make way for a mix of offices, restaurants, cafes, shops and an art gallery. The £50m Duke’s Wharf scheme will also include a public courtyard and garden, and 16 homes.

The new buildings will achieve BREEAM excellence and a low carbon footprint. The residential will achieve sustainable code level 3 as a minimum.

The design team has proposed a radical new design for the residential element of the scheme in order to challenge city centre living aspirations. The 16 residential units will provide a mixture of flats and housing unique within Norwich.

The 200,000sq ft development, which will retain the 1910 Boardman Buildings, breaches the city’s local planning rules on housing numbers for the area, so the decision will need to be referred to the government’s regional office in Cambridge for approval.

Subject to final approval, Targetfollow hopes to commence enabling works next year, with the first occupants moving into the scheme within a few years. One of the first occupiers of the development will be Targetfollow itself, as Duke’s Wharf will become the company’s new UK office.

The company’s development and investment portfolio has a value of £3bn. Founded in 1992, the company has grown by acquiring and upgrading its city centre buildings and, with the help of affiliated companies RCP Parking and Targetspace, consistently adds value to the portfolio.