“Build it and they will come...”
Cabinet papers for St Edmundsbury councillors detail how the Suffolk Business Park could help to redress the ratio of earnings to average house prices.
Suffolk Business Park is on the fringes of the Moreton Hall estate between Skyliner Way and the Rougham junction of the A14. It’s an area of Bury St Edmunds with some larger modern homes with larger modern prices.
The average salary in the borough is about £28,000, making the cost of the average semi eight to nine times the average income.
“It is important for us to start to improve the average income to reduce the affordability gap,” says the report.
The council’s vision for the park could help to offer opportunities for higher wages, provide businesses with a range of adaptable spaces and offer employment for the future growth of Bury.
It’s one thing to identify a problem – but full marks to St Edmundsbury for completing the circle and hitting on a long-term potential solution. Let’s hope it all works out.