Network Space Ltd

Aims

Network Space Ltd is a joint venture between English Partnerships and Langtree Group plc, founded in 1999 to develop industrial workspace within the English Coalfields.

The formation of the joint venture flows from the Coalfields taskforce initiative which was set up to identify a programme of action to assist and revitalise Coalfield areas disadvantaged by the rapidly contracting coal industry.  The aims of the venture are to provide local employment opportunities for local people and stimulate growth in SME’s through the provision of quality managed workspace for new and expanding businesses within coalfield areas.

The venture is structured as a limited liability company and was started with equity investment by each partner, with the target of developing a portfolio of workspace amounting to 500,000 sq ft, utilising this equity and debt funding secured against the growing portfolio.

Representatives of English Partnerships and Langtree Group plc make up the board of Network Space and ensure that the aims and objectives of the venture are met.

The original priorities for Network Space included:

• The provision of 500,000sq ft of workspace to accommodate small to medium sized enterprises.
• Work with Regional Development Agencies, Local Authorities, Coalfield Communities programme and the private sector to fill the gap in the provision of workspace and stimulate growth in the small business sector.
• To maintain consultation with the Coalfield community campaign, Coalfield Regeneration Trust and local regeneration organisations to ensure that the best possible benefits are gained for the Coalfield communities.

Extending the joint venture

English Partnerships and Langtree Group plc agreed to undertake a second phase which will bring 210,000 sq ft as an extension of the joint venture.  This second phase is due for completion in February 2008 bringing the portfolio to circa 710,000 sq ft in 22 Network Centres.  Units range from around 750 sq ft upto 3,900 sq ft and are available on easy in, easy out terms.

Following on from this the partners have agreed to develop a Phase III development plan to provide a further 300,000 sq ft of managed workspace plus significant housing outputs on Coalfield sites. 

It is intended that these will be delivered as part of the Network Village concept. This combines the provision of high quality managed workspace delivered by a workspace provider with a long term interest in maintaining employment uses within a mixed use setting.

The setting is specifically masterplanned to encourage the formation of sustainable communities with high quality housing provided, with an affordable mix agreed with the local authority.

Standards

As with any venture which receives the support of English Partnerships, standards are high on the agenda, and as a minimum all developments are expected to reach BREEAM very good.

Expected standards have been exceeded at Network Space, Allerton Bywater, with Allerton Bywater the first development undertaken in partnership to receive BREEAM excellent rating and it is hoped that Network Villages will build upon this achievement.

Additional information

The Network Space newsletter 2007/08 is available to download from our Publications page.

Details of individual network centres and availability can be found at Network Space.