The primary output from this commission was a robust and well-articulated feasibility study and investment business case, with which the Client Group can promote the proposed Science Park internationally. These outcomes 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 etc., as well as providing a clear route map for the further development of this project.
BBP Regeneration led a team of consultants to clarify the Science Park concept, 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 suited for the Science Park concept. We carefully considered quality, design, materials and sustainability, both in terms of the infrastructure / environment generally, as well as buildings and accommodation – in order to ensure that this is 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 there is a viable proposition overall, and if not where variations / changes need to be considered.
The Business Case was intended to provide the project partners with a clear way forward in terms of a preferred site, supply and demand, development plans, designs and specifications, funding proposals, cashflow and viability, responsibilities and key actions going forward including a management/ governance structure, funding routes and associated development risks to assist the client group in successfully delivering this project.