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The Netherfield Partnership Ltd
A Society for the Benefit of the Community

 

 

 
 
     
 

The Netherfield Partnership Ltd is registered as an Industrial and Provident Society.

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 function.

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 opportunity
that the applicant appears to have given the idea sufficient thought
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.