Imperial College London has partnered with Bruntwood SciTech to construct a life sciences and deep tech development worth over £200m in the west of London.
The university has allocated land at its White City Deep Tech Campus for this project, following an agreement with the joint venture comprising Manchester property group Bruntwood, Legal & General, and the Greater Manchester Pension Fund.
The initiative aims to provide 'world-class' labs and workspaces where deep tech start-ups, scale-ups and global businesses can 'co-locate, collaborate and grow' alongside Imperial's academics, clinicians and researchers, reports.
The project will result in a new commercial innovation facility spanning at least 200,000 sq ft, marking Bruntwood SciTech's first venture into London. Further specifics about the building and potential job creation have not yet been disclosed
The facility is expected to offer access to Bruntwood SciTech's network of academic, clinical, and innovation partners, investment support and growth programmes.
Designed to be net zero carbon in construction and operation in communal spaces, the new centre aligns with Bruntwood SciTech's commitment to providing 100 per cent renewable energy across all shared areas in its entire 4.8m sq ft portfolio. Subject to planning permission, construction is projected to commence in 2026.
The announcement arrives just over a year following Bruntwood SciTech's securing of a £500m investment and the addition of the º£½ÇÊÓƵ's largest local authority pension fund, Greater Manchester Pension Fund, as a shareholder.
Additionally, this project is integral to the joint venture's ambition to cultivate a £5bn portfolio across the º£½ÇÊÓƵ that will be home to 2,600 high-growth enterprises by the year 2032.
Bruntwood, with its headquarters in Manchester led by OBE-recipient chief executive Chris Oglesby, owns a substantial portfolio of almost 100 iconic buildings and commercial spaces spanning areas such as Greater Manchester, Cheshire, Liverpool, Birmingham, Leeds, and Glasgow.
The Bruntwood SciTech joint venture nurtures 1,100 companies specialising in life sciences, technology, and innovative business sectors across nine campuses and 31 urban centres.
Describing it as 'a hugely ambitious project', CEO of Bruntwood SciTech, Chris Oglesby remarked: "Having the opportunity to partner with Imperial to deliver the next phase of their world-leading science and technology campus is a tremendous accolade."
"It is also testament to our work over the last year to deliver on our commitments to driving forward the º£½ÇÊÓƵ's innovation economy through our existing work in Manchester, Birmingham, Leeds, Liverpool and Cambridge and buoyed by momentum from our £500m investment, coupled with the strength of our ongoing partnerships with leading educational and public sector institutions."
"The White City Campus is a hugely ambitious project that will help propel the º£½ÇÊÓƵ to the forefront of innovation."
"Having worked to become deeply embedded in the knowledge economies of the º£½ÇÊÓƵ's leading regional cities and creating successful city-wide innovation ecosystems, it is now the perfect time for us to expand into London.
"This new, joined up approach between the capital and the º£½ÇÊÓƵ's fastest growing regional cities will enable businesses to harness the power of the collective and encourage companies of all sizes to consider the º£½ÇÊÓƵ as their first choice for future investment."
Professor Hugh Brady, president of Imperial College London, said: "This new facility will connect world-leading discovery research with incubators, accelerators, startups, scale-ups and industry, and be a place where researchers and entrepreneurs work together on the rapid translation of ideas to impact.
"It is an important investment in our vision for the Imperial WestTech Corridor, a new globally competitive deep tech innovation ecosystem in West London that will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level."
This partnership comes on the heels of the completion of the first phase of Imperial's White City Deep Tech Campus, which offers research facilities for academics as well as space and support for early-stage companies.
The campus encompasses 1.5m sq ft of research, office and lab space and student accommodation that is already occupied.
Over 5,000 staff, students, businesses and organisations are currently based at the White City Deep Tech Campus, working in fields such as AI, medtech, engineering biology, chemistry and climate science.
The campus forms part of the White City Innovation District and is situated alongside the former BBC Television Centre and White City Place.
The new innovation centre will ultimately be a part of Imperial's £2bn investment commitment at the campus, a third of which has already been delivered.
Upon completion, the White City Deep Tech Campus will span 23 acres and offer 3.8m sq ft of academic, commercial, R&D, clinical, residential, retail and leisure space for over 25,000 people.
Bruntwood SciTech was advised by JLL and Addleshaw Goddard, while Imperial was advised by Eastdil Secured, CMS and Freshfields.
Science and technology secretary Peter Kyle said: "This partnership demonstrates the potential that can be unlocked when we combine the expertise of world-leading academics and researchers with the private sector.
"Working together, they can bring more advanced technologies from the lab to the market and turn more bright ideas into fully-fledged businesses.
"The innovation hub will be a great addition to Imperial's White City Campus, which I have seen first-hand, with state-of-the art facilities that will cement the º£½ÇÊÓƵ's place as a top destination for businesses to grow.
Emphasising the long-term benefits, Mr Kyle said: "With the best resources, the researchers here will unlock new job opportunities and strengthen our economy, building on the investments showcased at the International Investment Summit."
Councillor Stephen Cowan, leader of the London Borough of Hammersmith & Fulham, said: "This landmark £200m investment from Bruntwood SciTech in the White City Innovation District is another huge vote of confidence in our transformative science, technology, engineering, maths, medicine and media (STEM) industrial strategy.
"Bruntwood SciTech has a formidable track record in delivering key technology infrastructure projects. Their team includes dedicated science officers with a deep understanding of the º£½ÇÊÓƵ's research, academic and government sectors and their infrastructure needs.
"Since launching our unique Industrial Strategy with Imperial College in 2017, H&F has attracted more than £6bn of investment. To provide context, that's more than all the rest of West London combined. We set out to bring our residents and their children the best new STEM jobs in the industries of the future.
"This investment is another indication that our strategy is working and we're just getting started."
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