The 15ha site has outline planning permission for 39,000sq m of commercial floorspace for up to 4,000 jobs. It sits within a wider area of the city that is the emerging Durham Innovation District, encompassing the new University Business School and Milburngate, a 450,000sq ft mixed-use development.
According to the authority, the scheme will identify key areas of opportunity, including research and advanced manufacturing, green jobs, electronics, digital and creative, fintech, life sciences and satellite applications sectors.
Although the JV will initially focus on the Aykley Heads location, the scope may be expanded in the future to cover wider County Durham area opportunities.
A contract notice is due to be released on 9 October, 2023. The PIN can be found by clicking here.