Financial commitment to business success

Haverhill Research Park and St Edmunsbury Borough Council have a total commitment to the success of the business environment in Haverhill.

Haverhill Research Park has been awarded Enterprise Zone status, and as such Business Rates relief of up to £275,000 (£55,000 p.a.) is available, as an incentive, to all companies moving into a new building.

Typical cost savings are compelling when compared to other parks in the Cambridge Business and Technology Cluster.

The total annual cost saving at Haverhill Research Park for a fitted office/R&D building could be 43-51% less than in Cambridge.

See the following example cost comparisons.

1

A typical comparison (per sq ft) of fitted office/R&D accommodation at Haverhill Research Park, versus Cambridge

Cost Haverhill
Research Park (per sq ft)
Typical Cambridge
Area Park (per sq ft)
Rent £20.00 £35.00 – £40.00
Business Rates £10.00* £17.50 – £20.00
Service charge £0.35 £0.50 – £1.00
TOTAL £30.35 £53.00 – £61.00

* Rateable Values have yet to be confirmed at the Park. This figure is calculated assuming Rateable Value based on £20 per sq ft, but this will be eligable for business rates reflief of up to £55,000 pa under the Enterprise Zone status.

2

Typical 10,000 sq ft office comparison

Cost Haverhill
Research Park @ £20 per sq ft
Typical Cambridge
Area Park @ £35 per sq ft
Rent £200,000 £350,000
Business Rates £45,000* £175,000
Service charge £3,500 £7,500
TOTAL £245,000 pa £532,500 pa

HRP Cost saving = £287,500 pa, or £1,437,500 over 5 years

* Assumes rates payable reduced by £55,000 pa under the Enterprise Zone status.

3

30,300 sq ft office comparison, ie Building 300

Cost Haverhill
Research Park @ £20 per sq ft
Typical Cambridge
Area Park @ £35 per sq ft
Rent £606,000 £1,060,500
Business Rates £248,000* £530,250
Service charge £10,605 £22,725
TOTAL £864,605 pa £1,613,475 pa

HRP Cost saving = £748,870 pa, or £3,744,350 over 5 years

* Assumes rates payable reduced by £55,000 pa under the Enterprise Zone status.