The development of a business and technology centre at Maxwell’s Farm, Cheshunt, is set to provide a hub for tech firms and SMEs, and bring forward new employment opportunities for local people.
The scheme is led by Broxbourne Borough Council and Hertfordshire Local Enterprise Partnership (LEP), and follows the highly successful, jointly funded Ambition Broxbourne Business Centre in Hoddesdon.
The business and technology centre is one of five key projects selected by Hertfordshire LEP to receive a share of its £16.8m allocation from the Government’s Getting Building Fund, which aims to kickstart local economic recovery amidst the Coronavirus pandemic. Together, the five Hertfordshire projects are set to deliver over 1,500 high value jobs across high-tech sectors including smart construction, film and TV, cell and gene therapies, and advanced therapeutics. The business centre will be backed by a £5m Getting Building Fund and Growing Places Fund investment from the LEP.
The building will encompass 3,209m² of flexible space comprising a mix of offices, studios and training facilities. The centre’s high-spec design aims for a BREEAM rating of Very Good, which reflects the sustainability of the construction; a Wired Score Platinum mark, which indicates an exceptional standard of wired infrastructure and wireless network to boost connectivity for tenants; and a FitWel accreditation, which looks at the measures put in place to safeguard and improve the health and wellbeing of the building’s occupiers. Further to the provision of workspaces, plans to ensure the success of future tenant businesses also include the provision of digital technology training and support services.
The business and technology centre is adjacent to the proposed Park Plaza commercial development, a new science and business park set within 90 acres, located next to Junction 25 of the M25, and within 30 minutes travel of central London and major airports. These two developments form a key element of the Council’s strategy for employment growth, as set out in the adopted Broxbourne Local Plan 2018-2033.
Leader of Broxbourne Borough Council, Councillor Lewis Cocking said: “I am very excited about this development and the opportunities that it will bring to the Borough. Having seen the success of the Ambition Broxbourne Business Centre in Hoddesdon I am confident that the investment in the new business and technology centre will also have a great and much needed impact on the Borough with new jobs, enhanced skills and opportunity to help boost local economic growth.”
Mark Bretton, Chair of Hertfordshire LEP, said: “Through our targeted programme of investments, we are providing the space, support and skills that Hertfordshire businesses need to recover and rebuild from the devastating impact of COVID-19. With its modern amenities and high spec design, the business and technology centre will help to attract new businesses to Broxbourne and provide an ideal destination for SMEs to grow and collaborate, bringing forth high quality jobs for local people.”
The construction of the centre is expected to commence in July 2021 subject to planning permission, with target completion and occupancy in early 2023.