Bruntwood to buy Manchester Science Parks
BRUNTWOOD has announced that it is in the final stages of a deal to acquire Manchester Science Parks.
The deal will see the Manchester-based developer take control of a portfolio of around 400,000 sq ft of space, including 240,000 sq ft at the core campus by Manchester University, as well as the One Central Park incubator in Newton Heath, buildings at the Birley Fields campus in Hulme and at Salford Innovation Park.
The firm has also pledged to bring more buildings forward to support the science sector in the city, which could increase the amount of buildings used for and technology in to Oxford Road corridor area to around 500,000 sq ft.
Bruntwood chief executive Chris Oglesby made the announcement at the MIPIM< property fair at Cannes. He said: “Growing the science sector in Manchester is vital to the growth of the city region.
“Bruntwood is delighted to be partnering with Manchester and Salford city councils and The University of Manchester and Manchester Metropolitan University (MMU). This is a once in a lifetime opportunity to significantly step change the region’s science base.”
Sir Richard Leese, Leader of Manchester City Council added: “Manchester and Salford welcome the opportunity to work with Bruntwood on the next phase of the development of msp across all of its locations.”
Bruntwood also unveiled a new identity for the Royal Eye Hospital site, which will now be known as citilab – a name that Mr Oglesby said “does what it says on the tin”.
“It’s called citilab because it will provide world-class laboratory facilities located in the heart of the city.”
Enabling works have already begun at the £21m project, where it has secured occupiers for 15,000 sq ft of space. Mr Oglesby said that Bruntwood expected to announce “one or two significant pre-lets within the next few weeks”.
Enabling works have already begun at the £21m project, where it has secured occupiers for 15,000 sq ft of space. Mr Oglesby said that Bruntwood expected to announce “one or two significant pre-lets within the next few weeks”.
Around 80% of the space at the 100,000 sq ft biomedical centre of excellence will be new-build laboratory space while 20% will be refurbished education space.
More details regarding the £72m redevelopment of Manchester Business School’s campus were also announced, where a 200-bed standalone hotel is to be built and the existing Precinct Shopping Centre redeveloped.
The deal with Manchester Business School will see it commit to taking on at least 22% of the rooms – worth £1.12m per year – for its own delegates.
