The project involves construction of iCentrum, a high-tech business incubation centre that will encompass a total area of 40,000 square feet. The iCentrum forms part of 120,000 square feet Digital Plaza building project, which involves development of four new buildings arranged around a new plaza to be developed on the land fronting onto Holt Street.
The building will have innovative design and will be built using modern work practices. The iCentrum will be linked to the Faraday Wharf building of the Science Park by means of a first floor bridge. icentrum is likely to accommodate several industry-led incubators to drive new innovative businesses in the key sectors of the regional economy. The project also involves renovation of the Faraday Wharf building.
Construction of the facility will entail an investment of £7.5 million ($11.76 million) and will span 12 months. Thomas Vale will also file a planning application for the entire scheme and, if approved, plans to commence work by the end of 2012. The Digital Plaza will be financed through a Special Purpose Vehicle, which will secure the funding for the first building.
The Digital Plaza will comprise of four state of the art buildings, specifically designed for the new generation of hi-tech companies. The four proposed Digital Plaza buildings will provide a total gross area of over 100,000 square feet of space.
