Work is underway on the expansion of Node, the enterprise centre at Roundswell near Barnstaple.
We’re providing additional investment along with the Heart of the South West Local Enterprise Partnership, and the European Regional Development Fund, to support the growth of the centre by creating an extra 537sq m of flexible office space.
Town Square Spaces Ltd (TownSq) operates the centre which opened in February 2021. Node supports SMEs, start-ups, freelancers and local workers in Barnstaple and the surrounding areas of North Devon and Torridge.
It currently has 37 offices, a coworking space for up to 50 people, a number of meeting rooms and an on-site coffee shop.
The aim is to open the second phase expansion next year to cope with growing demand. The centre exceeded its two-year target inside its first year, letting 64% of its office space after just eight months.
Node’s first annual report has revealed that the community already has a combined workforce of more than 120, an achievement far ahead of its initial objectives.
Councillor Rufus Gilbert, Cabinet Member for Economic Recovery and Skills, said:
“Node really hit the ground running and has been an amazing success story since it opened 16 months ago. The County Council has shown its commitment to the project with its investment towards the expansion of the centre. It has already proven to be an excellent flexible working space for individuals and teams, and this next phase will enable more local companies to benefit and grow at Node.”
Karl Tucker, Chair of the Heart of the South West LEP, said: “Node provides in-demand high quality small office space and dedicated support for small businesses at every level of their growth. The centre has already supported many businesses and employees over the past year with its flexible workspaces and collaborative community, and we are delighted to support this additional space, which will help even more businesses in northern Devon to thrive.”
Julian Dymond, Community Manager at the Node Enterprise Centre said: “When we first started engaging with the local community as part of our search for founding members, we sensed there was a great deal of potential for something special at Node.
“Having exceeded our targets so early I have to pay tribute to the hard work of our team and the support of our wider partners and stakeholders. However, none of this would be possible were it not for the achievements of our member businesses. They have been the ones setting and smashing goals week in, week out – and it’s their examples of success that highlight the benefits of hubs like Node. It’s these examples that allow us to attract and support so many innovative enterprises that have all chosen to call Node home.
“I’ve no doubt that as the second phase of the project begins, we will continue to build on this impressive foundation and promote Barnstaple and wider North Devon as a bastion of entrepreneurial excellence in the South West.”
Just over 40% of the members at Node are “digital”, which includes a large number of digital marketing agencies, videographers and social media related businesses.
Members report that the strong digital presence is encouraging collaboration, with businesses sharing work that is not within their skill sets, rather than competing with one another.
Node is the flagship development at our Roundswell Enterprise Park and we have part-funded the project alongside the European Regional Development Fund and Heart of the South West Local Enterprise Partnership.