Multi-billion pound investment to come before Council

15 Apr 2024

The County Council’s Cabinet is set to consider a transaction with funds managed by Blackstone, a leading global asset management firm and one of UK’s largest investors, concerning the Northumberland Energy Park (NEP3) land site in Cambois, to enable the potential development of a ‘Hyperscale Datacentre Campus’. 

Council Leader, Cllr Glen Sanderson said: “Driving growth and jobs is a key priority for this Council. Next week, Cabinet will consider this really unique opportunity for Northumberland which offers a huge boost to the regeneration and renaissance of the local area. "The project would represent a significant inward investment of up to £10 billion, putting our County at the forefront of developments in the digital economy, and delivering over 1,600 direct jobs, including 1,200 long-term construction jobs, and over 2,700 indirect jobs over the course of the development. 

“If agreed, the Council would receive up to £110M in exchange for amending the buy-back option on the NEP3 land site, and use the proceeds to establish a fund which will drive investment, including in the economic corridor along our fantastic, new Northumberland Line. 

“Through the Council’s investment company, Advance, we have worked tirelessly to make this site such an attractive place for global companies to do business. 

“We look forward to considering this opportunity at Cabinet next week.

“Northumberland is indeed a Land of Great Opportunities and this potentially significant investment opportunity underlines this.”

The Cabinet report can be viewed HERE