What did South Kesteven District Council pay for the Cummins site in Stamford? SKDC's £7.5m investment in the future
South Kesteven District Council spent £7.5m on the former Cummins site on Barnack Road, Stamford, it was revealed today (May 16).
The 15-acre industrial site - once home to Newage International - has been bought by the council for housing and business development.
The council aims to work in partnership with Burghley Estates, which owns a neighbouring 20-acre field, to promote the whole site to developers.
The site has been named St Martin's Park, as revealed in a short video earlier this week.
Speaking about the £7.5m investment, a spokesman for South Kesteven District Council (SKDC) said they wanted to 'bring forward a commercial and residential development that will safeguard its future in a way that is sympathetic to the needs of Stamford'.
The spokesman added: "The investment will enable SKDC to generate income in the future, which can be further invested for the benefit of residents.
"This is a huge investment in the local economy and very much looks to the future, with the provision of opportunities for people who grow up in Stamford to live and work in the area."
Council is rising by £5 on a typical home in South Kesteven.