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Three in three! Third expansion announced as Maidstone's Business Terrace celebrates three-year anniversary.

15 Aug 2018

Sean Henry  Gareth Holland 2.jpg

Maidstone Borough Council has announced the third expansion of The Business Terrace, in a project that will create much-needed affordable office space for growing businesses in the town centre.

Launched in 2015, The Business Terrace is a communal working hub that is home to some of Kent's most impressive and exciting entrepreneurs and start-up businesses.

Plans for the latest extension have been approved and work is due to commence in August,When completed by November 2018 the £565,000 extension will deliver an additional six large offices, breakout and meeting areas and a new kitchen. By creating 3,543 sq ft of new office space the project will provide an essential economic boost to Maidstone.

Cllr Martin Cox, Leader at Maidstone Borough Council, said: "The Business Terrace has fast become the place to launch new enterprises, and demand is out-stripping supply. This additional investment confirms Maidstone Borough Council's commitment to providing the affordable and flexible office space that businesses require.

"The Business Terrace is a key component of Maidstone Borough Council's drive to attract new businesses and retain existing businesses and has been stimulating entrepreneurship in the Borough since it launched in 2015. More than 600 local businesses have received support to date and demand for our services and facilities continues to grow.

Sean Henry, Business Terrace Coordinator, said: "Most of the new space at The Business Terrace has already been reserved by current tenants looking to upsize. This means that smaller offices will become available for any start-ups or individuals looking to locate and grow their business in Maidstone.

"Most companies at The Business Terrace enjoy sustained growth and it's fantastic that we can support them on their journey and provide them with larger office space when they scale-up."

One such business is IT recruitment specialist Intec Select. Director, Stuart Kennedy moved to The Business Terrace two years ago using a hot desk and has since moved twice, both times taking larger offices.  He now employs 12 staff and will move to the new area at The Business Terrace taking a 1,088 sq ft office.

Stuart explains: "We have enjoyed exponential growth over the last two years and the support from the team at The Business Terrace has been invaluable. They've been supporting us since the start and it's great we can continue to grow in the place we originally set up."

The area of the building being extended was built in 1976 and has lain empty for 42 years. The Mall's owner, Capital & Regional, is working in partnership with Maidstone Borough Council to deliver this new phase of expansion at The Business Terrace.

Gareth Holland of Capital & Regional, said: "We are excited to deliver this new phase of The Business Terrace. Work to invigorate Maidstone town centre is really paying off and it is encouraging to know there is a waiting list for companies wanting to be part of the town's business hub."

For more information about The Business Terrace please visit https://www.businessinmaidstone.co.uk/the-business-terrace/

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