A business park is set to be rebranded, redeveloped and expanded.

Croxley Business Park in Watford, which has now been rebranded as Croxley Park, coincides as ground is broken on the new 63,000 square foot Building 1.

Building 1 is one of two new Grade-A HQ Office developments for which planning permission was granted at the beginning of 2016.

Croxley Park has been under the ownership of Columbia Threadneedle for three years now. Rob Flavelle, director at the company, said: “This is a rebranding with substance that reflects the success of Croxley Park and a new era in its evolution.”

“We’re building for the future, creating an exceptional place to work, and believe we can compete as a ‘best in class’ business park nationally for major companies seeking to house a headquarters as well as entrepreneurial start-ups that need the right space to grow.”

Newly released CGI images show potentially what new buildings will look like in what is being described as the ‘largest speculative redevelopment in Watford for 15 years’, which they hope to complete by next summer.

The two new developments will offer 140,000 sq. ft. of space for companies to operate in, which will be developed by commercial real estate developer Bell Hammer.

Croxley Park currently houses over 60 businesses, and has seen a host of large companies move in including Smith and Nephew, and Kodak.

Transport links to the business park are also being improved. The Metropolitan line expansion will see a new station at ‘Cassiobridge; only a short walk from the Park’s entrance, opening in December 2020.