About The Netherfield Partnership
The Netherfield Partnership Ltd is a not for profit organisation registered under the Co-operative and Community Benefit Societies Act 2014; the Farthing Enterprise Centre is the 'trading arm' of the Netherfield Partnership
The Netherfield Partnership was formed in 1998/99 to act as a residual body following a European Social Fund programme which sought to regenerate parts of the Netherfield in Milton Keynes
Our main activity is to manage the operation of the Farthing Enterprise Centre, which provides workshop/office accommodation for new and start-up businesses, primarily for residents/applicants from the Netherfield area, but also encompassing the Woughton Ward and ultimately the whole of Milton Keynes. The premises, which are owned by Milton Keynes Council, were refurbished under the ESF Programme.
The Lease on the Centre (originally known as the Red Cross Centre) places an obligation on the Partnership to make provision to house a charity and a training/education function.
The Netherfiled Partnership also holds a grant from the Esme Fairbairn Foundation to maintain the artworks in the Alphabet Park Netherfield, which was developed as part of the Regeneration Project.
The Farthing Enterprise Centre generates income from the letting of units to businesses on a monthly licence basis. Applications are invited from potential new or expanding businesses. Applications, including business plans and Cash Flow forecasts, are assessed by an Admissions Panel.
The panel is independent. If it believes that the business plan demonstrates a potential viable business opportunity with a thought out plan it will recommend the issuing of a licence.
Licence fees are heavily discounted - the 1st Month is free and the discount gradually decreases until the full market rate applies after a 2 year period (when many businesses decide to leave and continue growing in bigger premises)
The Partnership does not employ any staff and the work of the Management Committee is done either voluntarily, or as part of the employment of the representative of a member organisation.
The overall objective of the Netherfield Partnership is to contribute to the economic well-being of Netherfield and its surrounding areas, primarily by the provision of the managed workspace, however, should it believe that it has sufficient surplus resources, it is allowed to use these surpluses to further its objectives. The Partnership is managed by representatives of its members, who form the Management Committee, and meet, usually monthly, but as often as required. The day-to-day management of the Centre is contracted to a Managing Agent.