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Cavalry Park, Peebles impact evaluation
Summary
Aims
Cavalry Park is a business park in Peebles, located within a landscaped setting. The Park sought to address a lack of provision of office accommodation in the Peebles area by providing business space in a range of sizes. It also sought to accommodate local demand by housing company expansion and new start businesses, as well as attracting inward investment to the area. The project hoped to encourage the establishment of high-quality businesses in the Borders and assist in the economic development and diversification of the economy, whilst also providing employment opportunities. The evaluation sought to determine the impact the project had made on the economy and tenant companies, whether it demonstrates good practice in relation to its procurement and management practices, and whether it demonstrates good value for money.
Methods
The evaluation involved desk-based research of documentation provided and a series of interviews, which were carried out with twelve existing companies on Cavalry Park, the Park managers and the staff of Scottish Enterprise Borders.
Findings
It is found that Cavalry Park has achieved all of its main objectives, secured proposed benefits and exceeded output targets. The park has been successful in attracting diverse companies and has contributed to the economic development of the area. It is calculated that the project has supported 63-93 FTEs at the local level, and contributed between £967,000 to £3.4 million to local GDP. There were noted difficulties recruiting trained professional people, but that 80% of recruits were from the local area. Tenants were on the whole satisfied with the environment of Cavalry Park and the accommodation provided. There was a feeling that the management of Cavalry Park could have been improved.
Recommendations
It is suggested that the development of the remaining seven-acre site as a ‘techno-pole’ is recommended in order to secure high-growth companies to the Park, as well as satellite offices for high-quality, modern businesses. It is also suggested that a building design that offered more flexibility might be worth considering.
| Documents | |
|---|---|
| Consultant | PRA Economic Development Consultants |
| Published year | 2005 |
| Pages | 90 |
| Document Type | Evaluation |
| Theme/Sector | Area regeneration, Supporting key sectors, Business infrastructure, Inward investment, Internationalisation |
