Bruntwood secures £3.3m to develop tech park
Property firm Bruntwood has secured a £3.3 million loan to develop Didsbury Technology Park in south Manchester.
The company, which secured the finance from the North West Evergreen Fund, is aiming to complete the park, which will feature more than 155,000 sq ft of office space, by 2020.
Bruntwood has formed a strategic partnership with Siemens, PJ Livesey and Manchester to deliver the park.
Work started on the first phase of the development in January 2018.
Once complete, the site will provide over 155,000 sq ft of new purpose-built commercial workspace, as well as a multi-storey car park and high-quality landscaping.
The first phase of works includes the construction of 92 new homes by Manchester housebuilder PJ Livesey. The first phase is due to complete by the first quarter of 2019.
"Didsbury Technology Park is set to be a key knowledge asset for Manchester – building on the region’s outstanding strengths in science and technology facilities," said Bruntwood sales director Andrew Butterworth.
"The development will be one of the best-connected sites in the city, providing excellent links to both the Oxford Road corridor innovation district and the airport."
"The loan will allow us to press ahead with the delivery of the first phase of development and we expect the entire site to be developed and occupied by 2020."
"We are delighted with the continued relationship we have developed as a Fund with Bruntwood, delivering occupational space to support the Greater Manchester growth objectives," added Eamonn Boylan, chief executive of the Greater Manchester Combined Authority and board director of North West Evergreen Fund and Evergreen 2.
"This loan builds on our previous experience with Bruntwood and their delivery of workspace that supports employment for the region."