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.
©2015 HAVERHILL RESEARCH PARK. Created with impact
©2015 HAVERHILL RESEARCH PARK. Created with impact