£350m landmark deal to turbo charge growth in Norwich

Aviva Capital Partners (ACP), Aviva’s in-house capital unit that invests in in urban regeneration, housing and infrastructure across the UK, and Norwich City Council (NCC) have agreed a landmark investment partnership for a £350m redevelopment just outside Norwich city centre.

The partnership will take on the redevelopment of the 11 acre site of a 1960s former shopping centre, Anglia Square, delivering 1,100 new homes, with a mixture of affordable homes and homes to buy. A £34m grant from Homes England has kick-started the redevelopment by enabling NCC to purchase the site in December 2024 with demolition and remediation to commence imminently.

The investment could create over 3,500 jobs in one of the country’s 10% most deprived areas, just 15 minutes’ walk from Norwich city centre.

The site, which has been partially empty since Her Majesty’s Stationery Office left Sovereign House in 1996, will also become home to leisure and retail spaces and community facilities.

Councillor Mike Stonard, leader of Norwich City Council, hailed the partnership as a monumental moment in the city’s history, saying: “I believe our partnership with Aviva, which has called Norwich home since 1792, will come to be seen as an historical partnership in one of England’s most historic cities. The partnership will turbo charge the city’s economy and support our ambition to make Norwich one of England’s finest and fairest cities.”

Ben Luckett, Chair of Aviva Capital Partners and Norwich Community Ambassador, said: “Aviva is proud to be making such a major investment in Norwich, a city which has been our home for over 200 years. This vital regeneration project will bring significant economic and social benefits, helping Norwich get ready for the future. By working with Norwich City Council and Homes England, this will be a development the city can be proud of.

“We’re already proudly taking action to help build financial resilience and employment prospects across Norwich, as well as supporting communities and sustainability projects. Our role in the regeneration of Anglia Square is the next step in our historic partnership with the Fine City.”

Eamonn Boylan, Chief Executive Officer of Homes England said: "This is a key milestone for the regeneration of Anglia Square, enabling Norwich City Council to move forward in revitalising the city centre, and transforming brownfield land into high-quality homes for local people. 

"As the government's housing and regeneration agency, we are committed to working in partnership with organisations in both the public and private sector, to achieve their ambitions to build much needed new homes across the country."

A planning application to create a ‘box style’ shopping park with temporary shops and food stalls at the site has been submitted, giving existing traders spaces, but also becoming a catalyst for bringing new businesses into the area, whilst the redevelopment takes place.

ENDS

Notes to Editors:

• Mancroft Ward – where Anglia Square is situated - is one of the 10% most deprived areas in England. One-in-five households live in fuel poverty in this ward and unemployment rate is around 6% - well above city and national levels. Source: NorfolkInsight.org.uk
• Around one-in-four residents in Mancroft are affected by income deprivation - substantially higher than both the Norwich average (approx. 15%) and the England average (approx. 15-20%), highlighting acute financial hardship in this ward. Source: NorfolkInsight.org.uk
• It is estimated the demolition and construction of the new Anglia Square over an eight-year period will create, directly and indirectly, over 3,500 jobs. Source: NCC Economic Development Team
• According to a previous study by Weston Homes, spend by people living in the new housing would generate up to £36.4 million per annum in the local Norwich economy

About Aviva Capital Partners and Aviva’s work in Norwich

• Aviva Capital Partners (ACP) is Aviva’s in-house capital unit that invests Aviva’s capital to open up new opportunities for UK growth: helping develop thriving, sustainable communities, while generating long-term returns for our customers.
• ACP invests in urban regeneration projects, housing projects and sustainable infrastructure projects. It invests in the early stages of projects, creating options for ongoing investment by the wider Aviva business.
• For more details on ACP, visit Aviva Capital Partners.