Somerset Council defends its rural enterprise centres as Glastonbury gears up for its own hub
By Daniel Mumby - Local Democracy Reporter
17th Oct 2023 | Local News
Somerset Council has defended its network of rural enterprise centres despite the most recently-completed centre in Chard remaining unoccupied since its soft opening earlier this summer.
This comes as Glastonbury prepares to develop its own enterprise and innovation hub, transforming the council-owned Beckery Resource Centre on Beckery Road at a cost of £1.7 million.
Across Somerset, there are ten of these rural enterprise centres, each aimed at providing commercial spaces in areas where the private sector hasn't filled the gap. As of September, nine of the ten existing centres have an occupancy rate of 84% or higher. Among them are Barle Enterprise Centre in Dulverton, Highbridge Enterprise Centre, and Wells Enterprise Centre, which are all close to full capacity. Bruton and Wells centres are fully occupied.
The centres feature a range of spaces including industrial units, offices, and even hot-desking spaces, tailored to the needs of local communities. Funding for these projects comes from a blend of council borrowing and external grants, including contributions from the European Regional Development Fund and the Heart of the South West Local Enterprise Partnership.
"Our modelling for new centres anticipates an occupancy of circa 30% in the first year, increasing over time to between 85% and 90% over five years," a council spokesman said. "The Somerset enterprise centre network is considered to represent good value for money. The operating model for the network should be self-financing longer term, with rental income covering running, maintenance and renewal costs."
The strong performance of existing centres could bode well for the upcoming enterprise and innovation hub in Glastonbury. Given the council's optimism and the proven model of high occupancy rates in other centres, the hub represents a significant opportunity for local entrepreneurs and businesses.
With the development of Glastonbury's new enterprise and innovation hub, the town is set to join this network of successful centres across Somerset. It's an investment not just in bricks and mortar, but in the community and its future.
For more information on Glastonbury's upcoming enterprise and innovation hub and to keep updated on its progress, visit the Glastonbury Town Deal website at www.glastonburytowndeal.co.uk.
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