The £20 million major redevelopment project of ‘Inspire’ at Watford Business Park has made significant progress since works started in early 2023...
Led by Watford Borough Council, the project, which is expected to be completed by the end of 2023, has been skilfully managed by Stace LLP, the appointed project managers, and Faircloth, the construction company leading the charge.
Situated on Greenhill Crescent, Caxton Way, Faraday Close and covering 30 hectares, the business park improvements will create workspaces fit for the future at the vital employment area. Prior to the demolition of the previous outdated buildings, the site was home to over 100 businesses, providing employment to more than 1,000 people from Watford and beyond. The redevelopment will help boost these numbers.
The council and Hertfordshire Local Enterprise Partnership (LEP) have played a crucial role in supporting the redevelopment, investing £5 million of funding through the Local Growth Fund. This substantial support aims to revitalise this essential employment hub in the town and sets an encouraging example for companies considering relocating to the area.
The heart of the project lies in the design and construction of approximately 6,080 square meters of commercial premises, spread across 14 units, thoughtfully designed with ample parking and attractive landscaping. Moreover, a new access route into the site is being developed.
Buildings are being created to accommodate modern, flexible business units suitable for small and medium-sized businesses, catering to potential occupiers from various sectors, including film, TV, life sciences, and manufacturing. This ambitious project also aims to boost employment capacity, with the potential to create an additional 180 jobs in the town.
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. In order to maintain Hertfordshire’s contribution to the national economy, 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.”
