Bruntwood SciTech has confirmed it will develop more than 50,000 sq ft of laboratory space at the Mereside life science campus at Alderley Park.
This is the joint venture’s first major investment since it was formed by Bruntwood and Legal & General in October 2018.
The partnership is investing £10 million in the chemistry and biology labs, which range in size from 500 sq ft to 20,000 sq ft and are due to complete in spring 2019.
It also confirmed it is committed to adding a further 100,000 sq ft of laboratories in future phases of development at the park, with new labs of up to 15,000 sq ft, suitable for larger life sciences businesses.
“We see strong demand for high quality space and have great confidence in what we can offer – world class facilities and competitive rates, all within the context of a deep talent pool, a well-functioning ecosystem, business support and a lifestyle offer that just works for people,” said Dr Chris Doherty, managing director of Alderley Park.
“The North West is a great place to start a science or technology focussed business and equally well placed for overseas companies to establish a UK base.”
Bruntwood SciTech was first revealed in October, hailed as the UK’s “largest science and technology property partnership”.
The plan is to invest £360 million and grow the joint venture’s assets from 1.3 million sq ft to over 6.2 million sq ft over the next 10 years, supporting the creation of 20,000 new jobs.
In a recent interview with BusinessCloud, CEO Phil Kemp said Bruntwood SciTech is “all about unlocking growth in the regions”.
“We need to develop the existing assets we’ve got in Manchester, Aldereley Park, Birmingham and Leeds,” he added.
“We can already see a development pipeline that gets us to that £2 billion and we will, over time, invest and grow in those locations to help science and technology businesses scale and grow.”