Annual report 2024/2025 - Delivering for Colchester

Our Investment Strategy

Our investment strategy aims to help Colchester adapt to economic shifts, such as the growth of e-commerce, focusing on creating a sustainable, vibrant city that attracts investment and enhances quality of life.

City Centre Investment

Guided by feedback from 2,000 residents, our updated City Centre Masterplan reflects Colchester’s aspirations for the future.

Key projects include:

• A £40 million UK Government investment, supporting 15 projects to modernise the city centre.
• St Nicholas Square: A major transformation underway, set to open in 2025, to boost business and make the square a key destination.
• £6.25 million Digital Forum: Opening in 2025 on Queen Street, this facility will support tech and digital sectors.

Outside the City Centre

Colchester Leisure Park, now open, offers entertainment, dining, a hotel, and EV charging, enhancing the northern area and boosting the local economy.

We’re investing in Greenstead with the creation of a multi-use community hub, new affordable homes, and improved public spaces.

Additionally, £1.36 million from the Shared Prosperity Fund will support local businesses, health initiatives, skills development, and the creative sector.

£500,000 from the Rural England Prosperity Fund will fund solar panels, EV chargers, and the expansion of rural businesses.