MSP sees 33% hike in annual net worth

Rowena Burns

Science and technology parks operator Manchester Science Partnerships (MSP) has hailed a year of ‘strong performance’, as its net worth increased to almost £60m.

The company, which has an estate of more than 2 million sq ft, has property giant Bruntwood as its majority shareholder.

It has put the performance down to its existing science and technology customer base expanding their operations and increasing demand from new occupiers.

MSP’s accounts show a 33% surge in the group’s net worth to £58.5m for the year to September 2016 (2015: £44m).

MSP has five campus sites across the region, including Alderley Park – the former Astra Zeneca site – City Labs, Salford Innovation Park and the Tech Park. Its original site at Manchester Science Park is itself home to more than 170 companies in the life science, health-tech, biotech, ICT, digital and creative sectors.

Chief executive Rowena Burns called 2017 a “landmark year” for MSP and digital enterprise in Manchester with the opening of the Bright Building – the first new build on Manchester Science Park in more than 15 years.

Occupancy levels at MSP’s Corridor Manchester operations hit 94% in the period, while at Alderley Park in Cheshire the group’s transformation plan is gathering pace, with high profile customer relocations including Redx Oncology moving from Liverpool, and post-year end, Cyprotex from Macclesfield.

In February 2016 a 10-year Masterplan was approved by Cheshire East Council, which includes planning permission for up to 275 homes, a gastro-pub, hotel and new leisure facilities.

Burns added: “MSP’s ownership structure and relationship with the city is unique, and gives us the opportunity to play a pivotal role in delivering growth and high value jobs in the knowledge economy.

“The international interest in the city region was palpable recently, at both MIPIM in Cannes, and at South by Southwest in Texas. It will only intensify as Manchester’s national Internet of Things demonstrator CityVerve gathers pace and the health devolution agenda advances.”

Burns continued: “We believe in the power of both partnerships and place and both were evidenced in our successful bid for £2m of funding to create the Manchester Tech Hub within Corridor Manchester, the city’s Innovation District.”

Working alongside partner organisations Manchester Digital, Complete Resourcing, the University of Manchester and Manchester Metropolitan University, MSP will create a package of services for businesses located in the Tech Hub.