MSP hails landmark year
MANCHESTER Science Partnerships doubled its net worth and grew profits 40% in a landmark year for the organisation.
Owned by Manchester commercial property giant Bruntwood alongside The University of Manchester, Manchester Metropolitan University, Central Manchester University Hospitals NHS Foundation Trust and Manchester, Cheshire East and Salford City Councils, MSP said it has seen a surge in lettings, started a clutch of key developments and opened Citylabs 1.0 at the former Manchester Royal Eye Hospital site.
MSP, which used to stand for Manchester Science Parks, said vacancies at its exisiting sites is now less than 5%, underlining its ongoing investment in tripling the size of its Corridor campus around Oxford Road.
Alongside this development it has also revealed plans for the first phase of development at its 400-acre, life science campus, Alderley Park, which was acquired from pharma company AstraZeneca.
The aspiration for Alderley Park is for the development to attract more than 7,000 high-value jobs on site in the next decade.
Accounts for the year to September 2014 show profit before tax up 40% to £1m and net worth leaping from £17.8m to £35.6m following a 31% increase in the value of its Manchester portfolio and the issue of new £9.5m in new capital to fund the acquisition of Alderley Park.
MSP chairman and Bruntwood chief executive, Chris Oglesby, said: “The growth and development of MSP, in tandem with the work we are planning for the former BBC site and our vision for Alderley Park, will be truly transformational for the life sciences, digital and materials science sectors in the North of England and further drive investment and innovation.
“Through working in partnership with industry, academia and the NHS the right environment for investment, growth and discovery in science can be fostered. More than ever, MSP is relevant to the growth of the city region, helping to strengthen Manchester’s position as the economic engine of the Northern Powerhouse and the model of city growth, through its creation of places and support infrastructures needed for technology and life science companies to flourish.”
Rowena Burns, MSP chief executive, added: “The development of strong innovation clusters, in sectors closely aligned to the research strengths of our universities and health institutions, and to the key drivers of economic growth, is central to our forward strategy for MSP.”
She continued: “We help bring great ideas to life and our investment in growing and improving our footprint across the city reflects the demand for the unique support structure MSP can offer to its community and our commitment to growing innovation-led enterprise.”
