Member Article

Digital and creative businesses urged to take advantage of up to £275k of rates relief

Local property and regeneration specialist Jomast urges digital and creative businesses not to miss out on five years’ rates relief available at Albert North.

Albert North sits within Middlesbrough’s Historic Quarter, which is a government-approved enterprise zone.

This status means companies operating in the digital technology and creative sector who relocate here can qualify for business rate relief of up to £55,000 per year for five years, totalling £275,000.

The current business rate discount period ends on 31 March 2022, and businesses that take space in Albert North ahead of the deadline will be entitled to the enterprise zone rate relief.

Albert Road, a main thoroughfare in the town, was transformed into Albert North three years ago, and the area’s rebirth has gone from strength to strength.

Since regeneration of the area started, Jomast has let over 50,000 sq ft and welcomed numerous high-profile digital and creative businesses, including Mabo, Big Bite, Salesfire, SockMonkey, Appamondo, LouTom Media, iConvert and Sequencer.

Its collection of eclectic and historical buildings and close proximity to Middlesbrough Rail Station, which offers direct trains to London, has proved very popular with businesses that have chosen to relocate to the area.

Mark Hill, commercial property director at Jomast, said: “The opportunity to benefit from business rates relief within this enterprise zone will be coming to an end early next year.

“The amount businesses can save is significant, and we wanted to highlight the deadline so digital and creative companies don’t miss out.”

The response to Albert North has been tremendous, and with such a high occupancy level, Jomast is currently refurbishing TWENTYEIGHT/32 to make more office space available.

Mark added: “This building offers circa 24,000 sq ft over six floors and will benefit from a complete refit including a new reception, new lifts and external enhancements.

“Once again, we’re working with interior design specialists Cocoon & Bauer to ensure we provide the open, modern and flexible space businesses are looking for to meet their growing needs.”

Businesses relocating to Albert North can also take advantage of an incentive scheme that includes perks such as high-speed broadband, rent incentives, free public health initiatives for all staff and a town centre loyalty card with exclusive discounts.

This was posted in Bdaily's Members' News section by Lisa Holt .