The decision to invest in a dozen speculatively built, high tech office units seems to be paying off for the team at Milton Park in Didcot, Oxfordshire. Local SMEs are being attracted to the Park’s new Science Vale Enterprise Zone which offers business rates relief to occupiers.
The new offices are aimed at growing SMEs which can benefit from significant savings offered by business rates relief. Due to this Enterprise Zone status, the development of the new units can fast tracked, quickly creating new accommodation for growing companies. Ranging from 1,500 sq ft to 3,090 sq ft, the units have taken only six months to be built, all to a high standard and offering hi-tech accommodation.
Up to 70 acres of Milton Park, located near to Didcot, has been earmarked for the Enterprise Zone development and things are off to a good start after two units, totalling 3,090 sq ft, were leased to formula one supplier, 3D NC. Precision engineering company 3D NC supplies metallic components to the motor sport sector and primarily to Formula One.
Commercial director at MEPC, Andrew Barlow, commented that the team were excited to announce the first letting to 3D NC, a success which has demonstrated why investing in this kind of speculative development is so important.
Mr Barlow said; “We believe that this is the first letting in a speculative development within an Enterprise Zone anywhere in the UK. As soon as the EZ announcement was made we focussed on delivering these units to the market quickly to create opportunities for jobs growth and interest in this development is very high.”
Darren Philips, 3D NC director, added; “We needed modern, hi spec premises to expand and develop our business. The new units at Milton Park give us a contemporary environment at a prestigious location.”
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