The Netherfield Partnership
Ltd is registered as an Industrial and Provident
It was formed in 1998/99 to
act as a residual body following an ESF programme which sought
to regenerate parts of the Netherfield in Milton Keynes -
New Start for Netherfield.
Its main activity is to manage
the operation of the Farthing Enterprise Centre, which provides
workshop/office accommodation for new and start-up businesses,
primarily by residents/applicants from the Netherfield area,
but also encompassing the Woughton Ward and ultimately the
whole of Milton Keynes.
The premises, which are owned
by Milton Keynes Council, were refurbished under the ESF Programme.
The Lease on the Centre (originally
known as the Red Cross Centre) places an obligation on the
Partnership to make provision to house a charity and a training/education
Currently we do not have a
resident charitable organisation.
The Netherfiled Partnership
also holds a grant from the Esme Fairbairn Foundation to maintain
the artworks in the Alphabet Park Netherfield, which was developed
as part of the Regeneration Project. At present some refurbishment
work is being completed.
The Farthing Enterprise Centre
generates income from the letting of units to new businesses
on an all-inclusive (except electricity charges) monthly licence
basis. Applications are invited from potential new businesses,
who have to submit a business plan and application form to
an Admissions Panel. The panel is independent. If it believes
that the business plan demonstrates:
a potentially viable business
that the applicant appears to have given the idea sufficient
and has funds in place
it will recommend the issuing
of a licence to the applicant.
The licence fees are published
annually in line with the Centre's financial year, April to
March. The licence fees are then discounted back over a two-year
period such that the new business receives a heavily discounted
licence fee in the first six months (including one month free)
and this discount is then reduced each six months, such that
by the end of two years the business is paying what is considered
a "commercial" licence fee level.
The Netherfield Partnership
holds a lease on the Centre for 15 years.
The overall objective of the
Netherfield Partnership is to contribute to the economic well-being
of Netherfield and its surrounding areas, primarily by the
provision of the managed workspace, however, should it believe
that it has sufficient surplus resources, it is allowed to
use these surpluses to further its objectives. The Partnership
is managed by representatives of its members, who form the
Management Committee, and meet, usually monthly, but as often
as required. The day-to-day management of the Centre is contracted
to a Managing Agent.
Once each year, the Partnership
holds an AGM to approve and adopt the Company Accounts. The
Partnership does not employ any staff and the work of the
Management Committee is done either voluntarily, or as part
of the employment of the representative of a member organisation.