Croydon council has allocated nearly half its funds for its rate-free drive to attract businesses to the borough.
Last November the council launched 100% relief on business rates for the first year of occupation for firms that expand into new space in the Croydon Opportunity Area in the town centre.
So far the council has paid out £373,500, with another £45,000 pending from a total pot of £876,000.
The scheme has generated 61 enquiries, exceeding a council target of 50.
One of the most high-profile successes has seen Natterbox take the top two floors at Wainbridge’s No1 Croydon totalling 8,500 sq ft. A £70,000 rate-free incentive tempted
the telecoms provider to leave the 2,000 sq ft it occupies in serviced offices in central London and Oxted, Surrey.
Chief operating officer Adrian Evans said: “We looked at central London and other areas around the capital. We are a growing tech company and needed a location that was good for commuting and so would help us to find the right people.”
nick.whitten@estatesgazette.com
