Watford Borough Council proposes £10 million hub at Town Hall for businesses

Key Information:

Who: Watford Borough Council, Elected Mayor Peter Taylor, and proposed partner Co-Space.

What: A £10 million investment to create a new Innovation and Incubation Hub for local businesses.

Where: The historic Grade II listed Town Hall.

When: Cabinet will consider the proposal on 9 February 2026.

Why: To support start-ups, create local jobs, and revitalise the town centre.

The Watford Town Hall Quarter innovation hub is set to kickstart local business growth and create new jobs following a proposed £10 million partnership to transform the historic landmark.

Cabinet members meet on Monday to appoint Co-Space as the lead operator for the new incubation facility within the refurbished Grade II listed building.

Restoring a Watford landmark for community use

The proposal forms a central part of the wider Town Hall Quarter transformation currently underway. The historic building is being carefully restored to include a new museum, community café, and social spaces alongside the business hub. This investment aims to create a lively civic quarter in the heart of the town.

Supporting the Watford Town Hall Quarter innovation hub

If approved, the partnership will deliver high-quality, flexible workspaces for the local community. The facility will provide modern offices and co-working areas alongside hands-on business support for start-ups and small enterprises. This will specifically benefit Watford's growing creative and technology sectors.

Businesses using the hub will gain access to mentoring, training, and funding advice to improve survival rates. This tailored support ensures that emerging talent stays within the borough, according to the council. Bringing more workers into the town centre will also increase footfall for nearby shops and services.

What residents need to know

The project is backed by £8 million in Government funding and £2 million from Hertfordshire Futures. It operates on a sustainable commercial model to support the council's long-term ambitions for economic growth. This scheme reinforces Watford's position as a regional centre for enterprise and creativity.

Elected Mayor of Watford, Peter Taylor, said the hub will help the town continue to grow and prosper. He noted that the dedicated space will unlock economic growth and attract further investment into the area. The project will create new opportunities for residents across all wards.

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