Science Park Basildon - Business Plan for a State-of-the-Art Scheme
Client: Basildon Borough Council, Essex Country Council, Engineering and Manufacturing Excellence
The primary output from this commission was a robust and well-articulated feasibility study and investment business case which the Client Group could use to promote the proposed state-of-the-art innovation, technology and manufacturing science park internationally. This output determined some of the key building blocks for the study, including determination of a preferred site, robust supply and demand analysis, development principles, financial appraisals, a detailed review of funding options, as well as providing a clear route map for the further development of the project.
SQW Land & Property (as BBP Regeneration) led a team of consultants to clarify the Science Park concept which had been developed by the Client Group, and establish its key components, including innovation space, academic collaborations, grow-on accommodation and inward investment opportunities, all integrated seamlessly into one large employment site in Basildon.
The business plan was founded on a structured and comprehensive demand analysis, which established the justification for the project, including its scale and other characteristics. We undertook a wide and robust identification and analysis of suitable sites in the Basildon area and its hinterland, which could be suitable for the Science Park concept. We carefully considered quality, design, materials and sustainability in terms of the infrastructure / environment generally, as well as buildings and accommodation, in order to ensure that this was built into our high level financial projections and set out as a fundamental project objective. Based on a prepared 'broad' masterplan for the preferred location, we assessed the financial viability of the project – covering both set-up and subsequent development costs – to understand whether the proposition was viable, and if not where variations / changes needed to be considered.
The Business Case provided the project partners with a clear way forward in terms of a preferred site, supply and demand analysis, development plans, designs and specifications, funding proposals, and cashflow and viability. It also set out responsibilities and key actions including a management/governance structure, funding routes and associated development risks to assist the client group in successfully delivering the project.