The £10m Theobalds Enterprise Centre, designed to support the economic growth of the Borough of Broxbourne, was officially opened on 7 November 2023.
The centre will focus on supporting existing small and medium sized enterprises and business start-ups to enable innovators and entrepreneurs to realise their business growth potential, generating high value jobs and opportunities for local people.
More than 80 invited guests attended the launch of Theobalds Enterprise Centre, which will become home to 54 businesses when it reaches capacity. Joining the event were the centre’s six existing tenants, which include CHEX, The UK Electric Vehicle Company and Vow Sports, with another two businesses due to move in at the start of 2024.
The centre was jointly funded by Broxbourne Borough Council and Hertfordshire Local Enterprise Partnership (LEP), with the LEP contributing £5m, part of which was secured from the Government’s Getting Building Fund.
The centre is one of two Broxbourne Enterprise Centres jointly funded by Broxbourne Council and Hertfordshire LEP - the first of which being the Hoddesdon Enterprise Centre, which opened in 2016 and is now home to more than 40 businesses. Both centres are managed by Oxford Innovation Space.
The Theobalds Enterprise Centre building was designed to an exceptionally high standard, with a number of environmentally sustainable features, including photovoltaic panels to help meet its energy needs, motion sensitive LED lights in communal spaces and daylight sensitive LED lights in each office to help reduce wastage. The centre has a BREEAM Very Good rating for sustainability and efficiency, and a Platinum WiredScore which indicates an exceptional standard of wired infrastructure and wireless network connectivity.
Councillor Lewis Cocking, Leader of Broxbourne Council said:
I am proud of what has been achieved here. This is an amazing space and has everything a company needs to start-up or grow their business.
I would like to thank the Hertfordshire Local Enterprise Partnership for its support and for providing funding through the Government’s Get Building Fund to enable this project to take place. The LEP’s continued support is helping this Council achieve its ambitious plans for a prosperous Borough.
Adrian Hawkins OBE, Chair of Hertfordshire Local Enterprise Partnership, said:
We’re delighted to partner with Broxbourne Council once again to bring to market a new destination for ambitious young businesses in Hertfordshire.
This is a centre that is truly fit for the future: environmentally conscious with exceptional digital connectivity, in a prime location conveniently accessed by public transport, and just a stone’s throw from the upcoming multi-million-pound Sunset Studios and the development at Greater Brookfield, both of which present the biggest and most exciting opportunities for growth the borough has seen in recent years. We look forward to seeing our SMEs flourish here over years to come.
Tim Smith, Oxford Innovation Space Deputy Managing Director, said:
The opening of this centre is the culmination of many months of hard work and years of planning. We are delighted to be operating two centres in Broxbourne and are looking forward to managing the development of one business community across the two buildings, where local entrepreneurs can work together to pursue their ambitions.
The centre offers 3,209m² of fully managed workspaces including a mix of offices, studios and training facilities. Tenants can also benefit from a reception service, conference rooms, breakout areas, an onsite café, EV charging points, plentiful bicycle parking, and shower and changing facilities.
For more information on Broxbourne Enterprise Centres, visit https://www.broxbourneec.co.uk/
ENDS
Notes to editors
About Broxbourne Enterprise Centres
Broxbourne Enterprise Centres include Hoddesdon Enterprise Centre (previously known as Ambition Broxbourne Business Centre) and Theobalds Innovation Centre that opened in 2023. The centres, run by Oxford Innovation Space, are home to start-up and growing SMEs. These hubs of business growth are in a strategic position on the edge of London with excellent transport connections.
About Hertfordshire LEP
Hertfordshire Local Enterprise Partnership (LEP) is a business-led, multi-sector partnership focused on accelerating sustainable economic growth, job creation and raising workforce skills within the local area. Working in partnership with businesses, government, investors, education and not-for-profit organisations, the LEP puts people at the heart of growth.
Hertfordshire is home to thriving sectors of international importance including creative media, film and TV, life sciences and advanced manufacturing, with an economy delivering £41.57bn for UK plc annually.
The dedicated team is focused on driving the local economy by boosting inward investment, key sector, clean and inclusive growth. It provides skills leadership, detailed economic intelligence, and a comprehensive package of support to Hertfordshire’s business community. Find out more – www.hertfordshirelep.com
About the Getting Building Fund
On 4 August 2020, the government confirmed the list of over 300 successful projects which will receive a share of £900 million from the Getting Building Fund.
The full list of projects is available on GOV.UK.
The Getting Building Fund is investing in shovel-ready infrastructure projects to create jobs and support economic recovery across the country. Projects funded include:
- regeneration of town and city centres
- green infrastructure and clean energy
- transport and digital connectivity improvements
- unlocking of housing and business sites
- support for SMEs and learners
The successful projects (over 300) are expected to deliver up to 85,000 jobs, over 1,500,000 sq. m. of commercial floor space, unlocking 45,000 homes, almost 1,000,000 sq. m. of public realm or green space improved or created, over 50,000 new learners assisted, and 65 million kgs of CO2 emissions saved.
All projects have been selected by Local Enterprise Partnerships and Mayoral Combined Authorities in each area and endorsed by the Housing Secretary.