New £25 Million Business Park Workspaces for Watford’s Future
The £25 million redevelopment project of Watford Business Park is well underway. The project is being led by Watford Borough Council and is expected to be completed by the end of 2023.
The council and Hertfordshire Local Enterprise Partnership (LEP) have invested £5 million of funding through the Local Growth Fund to support the redevelopment. This substantial support aims to revitalize this essential employment hub in the town and sets an encouraging example for companies considering relocating to the area.
The project will create workspaces fit for the future at the vital employment area. The site on on Greenhill Crescent, Caxton Way, Faraday Close covering 30 hectares was previously home to over 100 businesses, providing employment to more than 1,000 people. The redevelopment will help boost these numbers.
The heart of the project lies in the design and construction of approximately 6,080 square meters of commercial premises, spread across 14 units. The buildings will be modern and flexible, suitable for small and medium-sized businesses from various sectors, including film, TV, life sciences, and manufacturing. The project also aims to create an additional 180 jobs in the town.
The project is being skillfully managed by Stace LLP, the appointed project managers, and Faircloth, the construction company leading the charge. The site is currently being cleared and construction is expected to begin in the coming months.
The redevelopment of Watford Business Park is a significant investment in the town’s future. The project will create new jobs, boost the local economy, and attract new businesses to the area. It is a positive step for Watford and a sign of the town’s commitment to economic growth.
It is unknown if any of the units have been allocated, but Tony & Maria’s cafe were given hope that they could to the new cafe but this still has not been confirmed. They have had no confirmation from the agency. Although they have been in talks with Cortland and could move there if they get the go ahead.
Here are some additional details about the project:
- The new buildings will be designed with ample parking and attractive landscaping.
- A new access route to the site is being developed.
- The project is expected to create an additional 180 jobs in the town.
- The project is being supported by £5 million of funding from the council and Hertfordshire Local Enterprise Partnership (LEP).
Elected Mayor of Watford, Peter Taylor said: “A key part of our success is providing the right spaces and conditions for all kinds of businesses to thrive and grow. To do this we have to offer high-quality accommodation and places that people want to work in.
“With the redevelopment of Watford Business Park, we are supporting our local businesses and creating the right environment for them to flourish. Our local businesses are the lifeblood of our town, creating jobs and prosperity and keeping the town vibrant and successful.”
Adam Wood, Enterprise Zone Manager at Hertfordshire LEP, said: “The volume of available business premises in Hertfordshire has been significantly depleted in recent years. To maintain Hertfordshire’s contribution to the national economy, and the vitality of our towns and cities, and to provide local employment opportunities for residents, it is essential that we continue to offer high quality spaces where our businesses can grow.
“The regeneration of Watford Business Park will expand the area’s employment capacity and capitalise on the town’s excellent transport links, skilled workforce, and strong business base. We are delighted to support this scheme, which complements our wider programme of investment in Watford, including the regeneration of Clarendon Road, Trade City, Riverwell and Watford Junction station.”
