Government reveals new enterprise zones

02 August 2011

Written by Steve Olejnik

Commercial mortgage holders may be interested in purchasing land in one of the four new enterprise zones revealed by the government.

Birmingham, Sheffield, Bristol and Leeds have been selected as the next locations for this initiative and will receive discounted business rates, enhanced capital allowances, reductions to planning control and high-speed broadband internet.

"It is our dynamic businesses, large and small, that are on the frontline of our economic recovery and we are committed to do all that we can to ensure that they can thrive," prime minister David Cameron said.

Dr Stewart Hotson, director at commercial mortgage-backed security service provider Hatfield Philips, pointed to these locations as providing good assets for venture capitalists to cherry pick, in an article for Mortgage Finance Gazette.

It is hoped that these zones - in combination with reductions to red tape and other reforms - will encourage private companies to base themselves in the UK and support the nation's economic growth.

Find out more on our commercial mortgages and how we can help you achieve your aims - enquire online.