Opportunity: Occupation, Investment

Type: Office, Light industrial

Sectors: Research and Development, Manufacturing, Business Services

Watford Business Park is a 30 hectare site to the south-west of Watford town centre and is currently home to over 100 businesses, employing in the region of 1,200 people. Whilst it is a major employment area, a significant proportion of the existing properties are old and of a poor specification.

Our £20m plus cutting-edge redevelopment project to transform the gateway to Watford Business Park is underway. The council has secured a £5m Local Growth Grant to assist in improving the Park and increase employment capacity, potentially creating an additional 180 jobs as a result of the proposed development. The consented scheme, set to commence construction this summer provides c.7,100 m² of industrial / warehouse premises, parking and landscaping, and a new internal estate road.

Watford Business Park is owned freehold by Watford Borough Council and by undertaking a direct development on a speculative basis on the gateway site, is seeking to encourage long leaseholders to consider the wider regeneration opportunities that the Park offers. Over the course of the last two years, there have been a number of lease re-gear negotiations successfully concluded that should give investors the confidence to take forward their own redevelopment plans and there has been increasing levels of transactional activity on the Park, demonstrating that investors are taking note of Watford Borough Council’s ambitions for the Park.

This move is about supporting our local businesses to make sure they have good quality employment space. Small businesses are the lifeblood of a town like Watford. It’s important that we continue to attract new businesses, support the ones we have and keep them within our community. A key part of this is providing the right spaces and conditions for them to thrive and grow. That is why we are investing in the business park and why this action is necessary.

Peter Taylor – Elected Mayor of Watford

Is your #Watford business a shining example of a brilliant business? If so, show us how fabulous you are! Apply now for the Watford Business of the Year Award. https://tinyurl.com/r8ffe4aj

#SMEHerts #WatfordChamber #WatfordBID #WentaWatford

A shout out to #Watford companies. What do you need to help boost your business in these challenging times? Get your voice heard. Take part in the #Watford business survey now. https://www.surveymonkey.co.uk/r/Business-2022

Calling #Watford businesses. What are your challenges? Higher costs? Skills? Funding? Watford Borough Council’s new business survey is out now. Have your say to help the council access support for businesses and the local economy. https://www.surveymonkey.co.uk/r/Business-2022

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