Govt kicks off £700m Strategic Sites Accelerator

Up to 10 major industrial and commercial sites across the country will be supported under the programme, as the government declares its determination to help drive reindustrialisation.

Trailed in a Place interview with the Office for Investment director Tim Newns at MIPIM this year, the government said that the Accelerator will focus on commercially viable sites with strong investor demand, where government backing can help overcome the barriers stopping development from moving ahead.

What’s on the table

The government said that the accelerator team is already engaging on potential sites in Glasgow, Burgess Hill and Sheffield with technical support and expertise, and that it “will back our Mayors and local authorities with blended finance across the country”.

This includes, it said, exploring investment opportunities in Greater Manchester, West Yorkshire, West Midlands, South Yorkshire, Liverpool City Region, the North East, Glasgow City Region and Cardiff Capital Region – building on the National Wealth Fund’s strategic partnerships in those regions.

The accelerator will be open to sites across every nation and region of the UK, potentially covering science parks, manufacturing sites and  innovation district plans currently held back by viability issues.

The programme brings together the Office for Investment and the National Wealth Fund, with CBRE working as national delivery partner.

No10 North will work alongside the programme and local leaders to support the government’s wider drive to identify investment opportunities across the country, government said. This will include working closely with the Accelerator to exchange pipelines of priority projects in support of the National Economic Council, in what government described as a major step forward for its Industrial Strategy.

Looking to tackle the key barriers holding back high-potential sites that could support Britain’s reindustrialisation is the stated goal, including anything from access to finance, grid connections, or planning constraints.

Government said the accelerator will support sites in a range of ways, from loans and equity and targeted grant funding to technical expertise, bringing government, local partners and developers together to tackle specific barriers.

Chancellor John Healey said: “Local leaders know their communities best. Only by trusting them with real power and resources will we see change. This £700m package is helping break down the barriers to local growth, so people can feel the benefits of a growing economy and love where they live.”

There is a push to see growth in sectors such as tech and life sciences, which a a sector has seen £4bn of investment since June 2025.

The Mayors speak

Bev Craig, Mayor of Greater Manchester said: “Powered by our trailblazing Good Growth Fund, Greater Manchester’s integrated pipeline will turbocharge £10bn of investment over the next decade in sites that will support new investment across the whole city-region, create high-quality jobs and drive long-term economic growth. But too often viable developments are held back by complex infrastructure, remediation or delivery challenges.

“The Strategic Sites Accelerator is a welcome step in helping to address those barriers and support places across the UK to bring forward nationally significant opportunities more quickly. We look forward to continuing to work with government and partners to identify sites that can unlock growth and benefits for communities and businesses.”

Claire Ward, Mayor of the East Midlands said: “Sites with strong development potential need flexible support to bring them into productive use. As Mayors, we are always looking for ways to deploy that support in a way that works for our business, places, and economies – and the Strategic Sites Accelerator meets that mark.

“It will help us to bring forward strategic sites, create jobs, and support a more resilient, green industrial future. I look forward to working with the Office for Investment to unlock opportunities across the EMCCA region.”

Oliver Coppard, Mayor of South Yorkshire said: “South Yorkshire is a place where we make things happen. I’m proud we’re already trailblazing a new approach, working alongside Government to unlock opportunities across the Don Valley Corridor, including at Runway Park.

“We know what long-term investment and partnerships can achieve. We’ve built a world-leading advanced manufacturing cluster around the AMRC, which is celebrating its 25th birthday this year. It’s already home to companies like Boeing, Rolls-Royce and McLaren, who are all growing their presence in South Yorkshire.

“Now we have an opportunity to build on our success, bringing the public and private sectors together to attract investment and create new opportunities.”

Richard Parker, Mayor of the West Midlands, said: “Our West Midlands Growth Plan and new Reindustrialisation Blueprint set out how we intend to create economic growth in our region. We want to take the great ideas being developed here, turn them into successful businesses and make sure the jobs that follow stay here.

“We have the right ingredients. But too often major investment opportunities are held back by practical barriers, whether that’s infrastructure, access to finance or getting sites ready for development.

“This Strategic Sites Accelerator is exactly the kind of partnership we need with Government to remove those barriers. We can then attract private investment and turn our ambitions into good, well-paid jobs for local people.”

Tracy Brabin, Mayor of West Yorkshire said: “Our West Yorkshire Local Growth Plan is unlocking sites for new homes and commercial development across the region, backed by a £450m capital fund made possible by devolution.

“The new Strategic Sites Accelerator will help turbocharge our ambitions, and provide space for businesses to grow and create high-quality jobs for local people.”

Government is also giving mayors a greater stake in the growth they generate, with a share of business rates from 2027 and an assignment of income tax from 2028.

Further funding

A further £285m will support areas moving towards devolution deals or Strategic Authority status, including £120m of capital funding to help places develop and deliver investment opportunities.

Iain Jenkinson, head of UK public-private capital at CBRE, said: “This is the first time in a generation that a UK government has backed an industrial strategy with the funding and support needed to unlock strategic sites, especially those with prevailing viability challenges. A fit-for-purpose real estate proposition is essential to drive productivity and support high-value business investment.

“The Office for Investment deserves great credit for launching the Strategic Site Accelerator. Working alongside the Office for Investment and the National Wealth Fund, CBRE is delighted to support this initiative as the programme’s national delivery partner.”