Despite economic uncertainty, Scunthorpe town is capitalising on the demand for expansion in North Lincolnshire, providing new opportunities for investors whilst simultaneously revitalising the town. Scunthorpe is fast becoming a competitive economic centre in the Humber region, across a wide range of industries, diversifying from its original industrial base.
Retail in Scunthorpe
With around 750,000 visitors per month, Scunthorpe is the largest retailing centre in North Lincolnshire, giving rise to speculation on whether the current size of the town is adequate for the needs of the local population. At present, there are two shopping malls and over 250 businesses. Scunthorpe’s last bout of development saw £40 million of private sector investment in The Parishes retail and leisure complex, bringing in an additional 250,000 sq ft. of retail floor space. Further development is expected to see the expansion of this space, opening up large investment opportunities in the area.
Tony Pickering, manager of The Parishes centre, said: "The town centre in its entirety is a very vibrant place and the council has recently injected a large sum of cash to tidy it up … There is a great mix, and we are seeing plenty of people coming into the town from the greater northern Lincolnshire area, like Grimsby and Lincoln, and from Doncaster in South Yorkshire."
Nicholas Dakin, MP for Scunthorpe, said recently: "I am really pleased with the way in which national businesses like BHS, Topshop and Primark, as well as local businesses like Fallen Hero and Coe & Co, among others, have invested in Scunthorpe town centre in the last year.”
This interest is expected to increase further as new developments created by the council-backed redevelopment scheme provide more space to cater for companies.
Scunthorpe Leisure Industry
The town centre redevelopment has also boosted Scunthorpe’s leisure industry. The town has recently bid for the Solheim Cup 2015, which could bring in over 100,000 visitors. Visitor attractions currently include the 20-21 Visual Arts Centre, the Plowright Theatre, Normanby Hall Country Park, the Steelwork rail tours, and North Lincolnshire Museum. Combined, these bring in 2.3 million day visits annually, and tourism contributes an estimated £167 million to the local economy. The redevelopment opens the door for hotels and restaurants to obtain new locations in the town centre.
The Scunthorpe Economy
Scunthorpe’s diversifying economy has received over £75 million of investment in recent years, and the private sector seems set to continue supporting the growth of North Lincolnshire’s largest retailing centre.
Success has already been achieved in part, as Scunthorpe is rapidly obtaining a reputation for excellence in culture and the arts, and has attracted a growing business services sector, which contributes to the growing demand for retail in the area.
In order to support investors, North Lincolnshire Council is unlocking town centre land which has never been utilised before. This has already proven popular, providing room for a planned multi-storey shopping complex, town centre supermarket, and both indoor and outdoor market developments.
For more information on Scunthorpe and the opportunities in the area, please see our North Lincolnshire Council pages.
