A Future of Innovation and Strategic Vision in Hertfordshire

Business Ambassadors met at the newly refurbished Maylands Building, Maylands Avenue, on Thursday 22 March and were treated to a detailed presentation on the future of the Enviro-Tech Zone.

Cherie Norris, Enterprise Zone Programme Manager for the Hertfordshire LEP, discussed in detail the 25-year strategic vison of the Hertfordshire Enviro-Tech Enterprise Zone and the plans to invest the zone’s retained business rates in future development such as digital infrastructure and road infrastructure, potentially including multi-mode transport solutions to encourage employment into the area as well as improving parking for heavy goods vehicles.

The term ‘Enviro-Tech’, ie, environmental technologies, will link the ‘built’ environment of BRE (Building Research Establishment) and the ‘green’ environment of Rothamsted Research, alongside the third innovation partner of the University of Hertfordshire.

Seven-sites make up the Enterprise Zone and cover an area just over 100 hectares.  “This will be high quality commercial space,” said Cherie, “targeting 800 businesses and creating circa 8,000 jobs.

“Development of this innovation hotbed,” said Cherie, “will be phased over a 10-year period with the intention of attracting large and small businesses into the area with competitive rental values and many non-financial incentives such as Gigabit technology to the premises, internet of things networks and 5G.”

ESO Capital hosted the most recent Business Ambassadors meeting at their innovative, newly refurbished building. The Maylands Building totals 140,000 sq ft and provides 5 levels of 26,000 sq ft divided into 3 wings of flexible office space which are available to lease from 7,500 sq ft upwards.

The Maylands Building, originally developed for Crosfield Electronics, was completed in June 1984 when it was officially opened by Sir Norman Tebbit. More recently, Dixons Consumer Electronics made it their HQ, until shortly after their merger with Carphone Warehouse, it was purchased by ESO Capital in April 2015. ESO have subsequently transformed the building with a major refurbishment which has recently completed.

Philip Papenfus, Director of Doherty Baines on behalf of ESO Capital added: “the 12,000 sq ft of central facilities, incorporating a new reception, communal lounge area with café and bookable meeting rooms, will reduce our new tenants’ outgoings and increase the efficiency of the space they lease.  This building provides uncompromising value with occupational costs around 40% more competitive than St Albans and around 30% more competitive than Watford.”

For further information, visit www.investhemel.co.uk or contact Gary Stringer, Ambassador Place Manager, on tel: 01442 228808.

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