FINANCE
Investment creates new office space for Ashfield
Entrepreneurs and businesses will soon benefit from new, high quality office space thanks to a £280,000 investment by the D2N2 Local Enterprise Partnership and Ashfield District Council. The redevelopment of the existing Ada Lovelace
borrow up to 50% of the value, which provides an opportunity to buy even more commercial property at a later date. Income and gains generated
by the property from rent or sale is also tax-free, and the whole pension fund is also free from Inheritance Tax. John Griffin, Partner at Newby
Castleman, said: “This really is a win-win for business owners, offering financial benefits for their business now whilst also giving them a growing pension fund to fall back on. ‘‘At Newby Castleman we have
the necessary expertise to talk business owners through the ins and outs of the process. We take a personal approach to financial advice and offer bespoke guidance tailored to each client’s circumstances.”
House, in Urban Road, Kirkby-in-Ashfield – named after Lord Byron’s daughter Ada Lovelace – will create 1,658sq ft of space for SMEs with a view to attracting those in the creative and digital industries. The project will cost £280,000 in total, half of which will come from D2N2 and half from the Council.
Ada Lovelace House D2N2 works with businesses,
local authorities, skills and training providers, and community and voluntary organisations to boost its area’s economy, improve business infrastructure and create jobs. To help with this mission it has an allocation of £192m in Local Growth Fund monies from central Government, which is invested in infrastructure to aid economic growth. D2N2 money for the Ada Lovelace House redevelopment was agreed by the D2N2 Infrastructure and Investment Board.
‘There is a clear appetite for small business space in Ashfield’
David Ralph (pictured), Chief Executive of D2N2,
said: “It is important that all parts of Derbyshire and Nottinghamshire are recognised for the contribution they make to the D2N2 economy. There is a clear appetite for small business space in Ashfield and the Ada Lovelace House redevelopment will be a means to help meet that need.” Councillor Don Davis, Portfolio Holder for
Regeneration at Ashfield District Council, said: The high-quality office space resulting from this project will greatly help to encourage new business to locate right in the heart of the town.”
business network February 2017 53
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