New chapter for former library building at science and innovation campus
A former library building at Harwell Science and Innovation Campus has been acquired by the campus joint venture from a Coventry developer as part of an ambitious pipeline of development.
The plans include tailored labs, advanced manufacturing, and grade A office space, designed to help combat the supply shortage of strategically located lab-enabled space.
The building has been acquired by The Harwell Science and Innovation Campus joint venture, which is 50% UK Atomic Energy Authority (UKAEA) and Science and Technology Facilities Council (STFC), and 50% Brookfield Asset Management.
The library has been sold by Deeley Group, which acquired the 2.2 acre site and a 35,000 sq ft building in 2004 from the UKAEA, however the authority retained the freehold of the site.
Since acquiring the property, Deeley Group has invested £4.5m to transform the 1950s library into offices which it has retained in its investment portfolio.
Deeley Group subsequently went on to develop more offices and business units, Lumen House and The Terrace on land adjacent to the library.
Eleanor Deeley, joint managing director of the Deeley Group, said: “This is a great deal for the Deeley Group, the UKAEA, STFC and Brookfield. This brings to a close our near two decade commitment to furthering the development of Harwell.
“With less than two years remaining on the occupational lease we were considering our next steps with the property and our landlords were keen to reacquire The Library from us.
“As a group, we are proud of the work we have done since 2004 to develop land at Harwell and transform The Library from a building in danger of demolition, into modern, high-quality office space.”
Stuart Grant, chief executive at Harwell Science and Innovation Campus, added: “At Harwell we have one of the most ambitious campus investment plans in the world, and we’re delighted to have brought The Library building into the portfolio.
“Acquiring The Library building will help us to further realise our vision, developing science-ready, research and development space for organisations at the forefront of scientific research.”
PICTURE CAPTION: Peter Deeley (Joint Managing Director, Deeley Group), Paul McSweeney (Senior Director – Investment at ARC), Andrew Brazier (Development Consultant, Deeley Group) and Jim Stretton (Chief Finance and Operating Officer at Harwell Campus).