The £20million major redevelopment project ‘Inspire’ at Watford Business Park is now underway, with the works expected to carry on through the year.
Located on Greenhill Crescent, Caxton Way and Faraday Close, the business park has more than 100 businesses employing more than 1,000 people. Despite the site being a major hub for employment, many of its buildings were old and not up to the standard needed by modern businesses.
The project includes the design and construction of c.6,080 square metres of commercial premises in 14 units with associated parking and landscaping, a new access route into the site, and the potential to create an additional 180 jobs.
Led by the appointed project managers, Stace LLP, and construction company, Faircloth, the project is expected to be finished by autumn 2023. The work is thanks to investment by the council and Hertfordshire Local Enterprise Partnership (LEP), who supported the redevelopment with £5million of funding via the Local Growth Fund.
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.
“That’s why we are extremely excited to start redevelopment of Watford Business Park. Supporting our local businesses and creating the right environment for them to flourish is absolutely vital and a top priority for me. 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 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.”