Unique concept for business start-ups heralded a success

Just eighteen months on from opening its doors, One Central Park (OCP) in east Manchester is already showing signs of success.

Instigated by urban regeneration company New East Manchester, OCP has a pioneering formula designed to stimulate and nurture entrepreneurial talent.

It is a unique collaboration between three of the region's top universities, University of Manchester, Manchester Metropolitan University and Salford University, together with Manchester Science Park (MSP) and MANCAT.

Based in Central Park in Newton Heath, this £18 million venture, the first of its kind in the UK, bridges the gap between academia and business. As a result of its success, the model is now being used in other towns and cities in Greater Manchester, the West Midlands and South Yorkshire. OCP has already supported nearly 100 entrepreneurs, helping them establish thriving businesses. Currently there are 30 businesses based in the building employing a total of 45 people.

One example is Winning Pitch, which now employs 7 people, and is forecast to expand to up to 30 employees by the end of next year.

John Leach, Winning Pitch's Managing Director said: "One Central Park has been the key to our business success. Their support and the flexibility has been invaluable. Everyone is passionate about entrepreneurship. It really does offer the perfect environment for a business to thrive."

With 45, 000 sq ft of business incubation and high quality office accommodation, located just two miles from the city centre, OCP offers a convenient location with free parking plus support from the universities and New East Manchester's business advisors, for as little as £40 a week.

Prof David Auckland, Chief Executive of One Central Park, said: "This is a fantastic initiative that is really working. One Central Park provides a unique bridge between academia, industry and the business development community. It offers an environment where talented and creative individuals are able to create new business opportunities, jobs and wealth in Manchester and the wider region. There is currently around 6,000 sq ft of space available for rent so we welcome approaches from entrepreneurs who would like to take advantage of our facilities."

Tom Russell, Chief Executive of New East Manchester Ltd said: "Central Park is driving east Manchester's economic renewal. OCP is designed to capture entrepreneurial talent and help it develop. As we are already starting to see, it has the ability to accelerate the regeneration of east Manchester by priming its economic revival. This will make a real difference to the people of east Manchester and their chances of a bright new future."

This innovative facility received over £8 million from the Northwest Regional Development Agency (NWDA). Steven Broomhead, Chief Executive of the NWDA, said: "Our joint ambition for One Central Park was always high from the outset with thousands of jobs expected to be generated by the Park at its completion. We always envisaged that it would be a catalyst for economic regeneration in East Manchester creating knowledge based jobs creating opportunity for the local workforce and encouraging more families to return to the area. East Manchester suffers from low levels of entrepreneurship, and the provision of incubator space for business start-ups to enable them to develop their work and make a mark in the marketplace was a key objective. The world class facilities have helped to shape the region's knowledge base, creating enormous opportunities for businesses and the local community."

The £18 million development of OCP was funded by major grant awards from the Northwest Regional Development Agency and the European Regional Development Fund with additional funding from the Higher Education Council for England and the Learning and Skills Council.

One Central Park is located at Central Park in Newton Heath, the UK's first large-scale mixed-use urban business park, covering by time of its completion 450 acres. Initially 90 acres are being developed including office space totalling 1.4 million sq ft (130,060 sq m). Central Park will be located just 1.5 miles from Manchester City Centre.

It is being developed by a joint venture company Ask:Goodman. For more information visit http://www.neweastmanchester.com/ or www.onecentralpark.co.uk

Media contact

Roz Hughes, tel 0161 223 1155