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 could be 31-38% 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 £29.00 – £32.00
Business Rates £10.00* £14.50 – £16.00
Service charge £0.35 £0.50 – £1.00
TOTAL £30.35 £44.00 – £49.00

* 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 @ £32 per sq ft
Rent £200,000 £320,000
Business Rates £45,000* £160,000
Service charge £3,500 £7,500
TOTAL £245,000 pa £487,500 pa

HRP Cost saving = £242,500 pa, or £1,212,500 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 @ £32 per sq ft
Rent £606,000 £969,600
Business Rates £248,000* £484,800
Service charge £10,605 £22,725
TOTAL £864,605 pa £1,477,125 pa

HRP Cost saving = £612,520 pa, or £3,062,600 over 5 years

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