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SCMP Reporter

BUSINESSMEN interested in saving GBP4 million (about HK$47 million) over the next few years would do well to visit the Akeler Developments' stand at the World Property Market this week.

    The company is developing Doxford International, a business park in the middle of Sunderland's enterprise zone in the north of England.

  The region has attracted such giants as Nissan, Fujitsu and Samsung to Britain.

  The park provides premium office, warehouse and factory accommodation for electronics and other hi-tech industries.

   Two nearby airports and six ports offer frequent services to northern Europe and the park has fibre-optic and satellite microwave telecommunication facilities.

    However, its main advantage is its enterprise zone status, which allows any company setting up in Doxford International to enjoy many financial benefits.

    They include generous government grants such as a 100 per cent capital allowance against taxation on construction and fitting out costs.

  This could save GBP2 million on a 50,000-square-foot property, which costs GBP6.5 million to build.

      Companies will also be exempt from paying the uniform business rate, a tax on property, until April 2000.

      In outer London, the business rates would cost a company GBP1.95 million between now and April 2000.

    Grants from the European Community, training grants and additional local grants could improve the situation still further.

    Similar financing organised by Akeler Developments will offer substantial rent cuts for companies that prefer to lease.

   The park was opened in May. When completed, it will cover more than 12 hectares, and consist of 1.25 million sq ft of offices and factories for sale or lease.

   It will have a hotel, a creche, shops and leisure facilities.

    The first phase, 114,000sq ft of pre-built prime offices, is 90 per cent let.

    Nike (UK)'s new corporate headquarters will be in a custom-designed building with a gross floor area of 40,000sq ft.

    The park rates highly in the Building Research Establishment's ''green'' ranking scheme.

  Mark Glatman, chief executive of Akeler Developments, said: ''This is the third time we have been to Hong Kong, and I believe we will see the first company from the region taking up residence within 12 months.

   ''Our role as a joint-venture partner is to take away all the setting up and expansion problems, leaving the company free to run its own business.

    ''The reception we have been getting is good, for manufacturing (in) UK is well ahead of Europe as a choice for investors.''     Akeler Developments is also active in two other enterprise zones - at Inverclyde, 10 minutes from Glasgow, which will operate until 1999, and Lanarkshire, between Glasgow and Edinburgh, which has 10 years to run.



Park offers top savings