News - 17/03/2010

Take advantage of the UK’s largest Enterprise Zone before it is too late

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Brookfields Park, the last remaining development site within the Manvers Enterprise Zone (EZ) in South Yorkshire, is almost full - with only two plots remaining.

The development, which is being marketed by our Yorkshire team and joint agent Knight Frank, has already been hailed as a huge success for the region, securing over 1,800 jobs with the potential for a further 300.

Over 1.6m sq ft of space built on 85-acre site

Around 1.6m sq ft of space has been built on site with high profile occupiers including Next Plc, Maplin Electronics and Pegler Yorkshire Group. The remaining two sites provide the opportunity for a further 180,000 sq ft of bespoke office, industrial or warehouse accommodation.

David Newton of St Paul’s Developments, said: “The site has witnessed an amazing transformation since we acquired it in 2005. Its extended EZ status has encouraged inward investment and enabled development projects to proceed, which otherwise may not have proved commercially viable in the current economic climate.

“In addition to the unrivalled financial incentives on offer, the development also benefits from excellent transport connections, and a comparatively cheap and skilled labour supply, making Brookfields Park one of the most desirable and cost effective locations in the UK.”

Tax relief on all developments within Zone

The 85 acre former colliery site was designated EZ status in 1995, along with five others across the Dearne Valley. Although its status expired in 2005, the site’s owners, St Paul's Developments and its funding partner Tritax Assets, protected the EZ financial advantages until April 2011 by entering into a ’Golden Contract’.

This means that tax relief can be claimed on any development which takes place before April 2011 and this benefit subsequently passed onto a qualifying occupier by way of improved financial incentives.

Businesses should take advantage of extended EZ status

Rob Whatmuff, Director and regional head of Industrial and Logistics, said: "The development has provided a boost to the local and regional economy. We encourage businesses to take advantage of the substantial benefits of the extended EZ status before it is too late.


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