Manchester Science Parks plans 60,000 sq ft block
Manchester Science Parks (MSP) is to kickstart its expansion plans with a 60,000 sq ft block.
The building will be part-funded with a £2.5m loan from the Greater Manchester Investment Fund which has been conditionally agreed.
Expansion plans have been on the drawing board since 2011, before Manchester property group Bruntwood took a controlling stake in 2012.
Former chief executive Jane Davies starting working on an £18m 10-year plan in 2011 which involved taking control of several plots of land around the site and redeveloping existing facilities at the main site near Manchester University which has 240,000 sq ft.
In a statement current chief executive Rowena Burns said: “In our first year of trading under new management we have very nearly filled the entire park and are looking to find ways of creating more space for science and technology companies in order to meet demand.
“One way we will do this is by creating ‘The Hub’, a brand new, purpose built 60,000 sq ft building with a multi purpose communications hub at its heart.”
She added: “The new building will comprise flexible workspace – communal workshops, offices and general purpose labs – plus events and networking space and office space, all suitable for a wide range of science and technology businesses. There has already been significant interest in the space and we look forward to announcing more detail on the development soon.”
Bruntwood acquired 51% of MSP which also owns the One Central Park incubator in Newton Heath and Turing House at Manchester Technopark in Hulme.
Founded in 1983, it was owned by Manchester City Council, the University of Manchester, Manchester Metropolitan University and five smaller shareholders: Ciba Speciality Chemicals, ITV, NatWest, Pochin’s and Quiros.
The main investors have retained an interest, with the city council and the University of Manchester both holding 19.7%. Manchester Metropolitan University has 7.3% and Salford University 2%.
