Place Category: Business Services
The Millfields Community Economic Development Trust (Millfields Trust) has been set up to enable local people to contribute and manage the regeneration of the Stonehouse neighbourhood in Plymouth. Our core business is rental of commercial premises across two sites in the Stonehouse neighbourhood. In total we are responsible for over 130 business premises, ranging in size from 120 to 1600 square feet.
In the spring of 2000, we took responsibility for three buildings on the site of the former Naval Hospital, now called The Millfields. Within 15 months we achieved a 100% occupation level, having let all premises.
As a result of this success the Millfields Trust was asked to manage the former Jaeger clothing factory in Union Street, now called the HQ Business Centre. This offers a further 43 business premises suitable for small to medium sized businesses. Stonely Court, The Millfields, is our own freehold asset. Completed in the summer of 2007 the building offers a further 10,000 square feet of commercial space to the Millfields Trust’s portfolio.
2015 introduces Genesis, our new state-of-the-art building situated on Union Street which offers an additional 33 new office spaces. In particular the Millfields Trust provides a platform to enable small and medium sized business to grow and develop. A package of measures including, high quality affordable accommodation, flexible tenancy terms and adding value to the tenancy are used to attract and support business. In return companies employ local people, purchase in the local community and provide goods and services. Employment is one of the key factors in revitalising a community and improving its long-term prospects. The Millfields Trust is contributing to the regeneration of the Stonehouse neighbourhood and the city by focusing on job creation and the development of business.
Social Impact Statements:
Social Impact Statements
The Social Enterprise Mark criteria includes a requirement that the applicant can demonstrate that social and/or environmental objectives are being achieved.
In support of this, new applicants and renewing Mark holders must submit Social Impact Statements that summarise their headline activities and achievements, helping show how they are striving to make a difference and stand up to scrutiny of purpose as a social enterprise.
1) Charitable donations
We have committed over £40,000 to Millfields Inspired, a charity working with young people in Stonehouse. The charity supports a programme of work with our six local primary schools.
In the last year it supported approx. 125 year five children through a Widening Horizons programme that resulted in a graduation ceremony in July 2015.
2) Creating employment and training opportunities
The Trust completed a new £5million enterprise centre in March 2015.
The centre attracted funding from the European Union and the LEP, as well as a significant contribution from the Trust's own reserves.
The build phase enabled 8 apprenticeships to be created, four of which were filled by young people from Stonehouse. In addition, 13 local companies won sub contracts and 25 other full time posts were created.
3) Investing into the local community
The Trust reached a milestone in the summer of 2015 of having invested over £1million back into the community of Stonehouse over the last 16 years.