Alderley's £10 mill development to address UK's lab space shortage
17 Dec 2018
The UK’s largest single site bioscience campus, Alderley Park, is to be expanded by 50,000 sq ft after owner Bruntwood SciTech announced a new £10 million investment.
Alderley Park MD Dr Chris Doherty (pictured) said: “These are the first labs we have developed at Alderley Park and are ideal for smaller life science businesses as they expand and grow.”
Construction has been prompted in part by the shortage of lab space in the UK and USA that has been exacerbated by the development timescales for new builds.
Added Doherty: “We are already home to a number of early stage drug discovery companies, fast growing contract research organisations, and have two venture capital funds based here.
We also have Enterprise Zone status, giving qualifying businesses the ability to claim up to 100% business rate relief for a maximum five years
Dr Chris Doherty, Alderley Park
We also have Enterprise Zone status, giving qualifying businesses the ability to claim up to 100% business rate relief for a maximum five yearsMore than 200 small to medium sized enterprises, employing in excess of 2,000 people are currently based at the park. Expansion has been aided by the presence of BioCity Group’s Accelerator service which provides access to investment and mentorship.
The new labs will range in size from 500 to 2,000 sq ft and will be available from Spring 2019, said the company.
Bruntwood SciTech is a 50:50 joint venture between leading property company Bruntwood and Legal & General Capital.