Funding for new business and technology centre set to unlock opportunities in Broxbourne agreed

At a Cabinet Meeting held on Tuesday 13 July, it was agreed to recommend that budget to enable the construction of a new business and technology centre at Maxwell’s Farm, Cheshunt be brought forward.

The centre follows on from the success of the Ambition Broxbourne Business Centre in Hoddesdon.

Planning permission for the business and technology centre was agreed on 29 June. The centre will provide employment opportunities for residents and encourage local entrepreneurs. The facility will comprise 34,000ft² of flexible space with a mix of offices, workshops and training and meeting rooms, together with a café.

The plan is for the centre to achieve a ‘Platinum’ level WiredScore assessment, which demonstrates the provision of a high level of digital connectivity and smart technology as well as to be awarded BREAM’s (Building Research Establishment Environmental Assessment Method) ‘Very Good’ standard for the environmental sustainability credentials of the building.

The business and technology centre will be backed by a £5 million Getting Building Fund and Growing Places Fund investment from the Local Enterprise Partnership (LEP) along with developer contributions of £2.5 million, and £4.9 million of the Council’s funding. The centre is one of five key projects which were 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 in response to the pandemic.

 

The construction of the centre is expected to commence in September 2021 with target completion and occupancy in early 2023. Prospective tenants may register their interest with the Council’s Property Services team via property.inbox@broxbourne.gov.uk.

Also discussed at the Cabinet meeting was the Economic Development Strategy 2021-2025 which was recommended to the Council for adoption.

The Economic Development Strategy sets 10 objectives that will contribute to the post-pandemic economic recovery and aim to:

  • provide good quality employment space
  • upskill residents
  • promote allocated major development sites
  • encourage cleaner, greener growth.

Cabinet Member for Economic Growth, Councillor Steve Wortley said:

We know only too well the devastating impact that the pandemic has had on businesses of all sizes. The business and technology centre will support the recovery and future development of local businesses and the initiatives within the Economic Development Strategy aim to strengthen the local economy and help local employers and employees with opportunities to grow and upskill.

Published: July 15th 2021