Ambitious plans for a new dedicated science park in Cardiff, which could be home to more than a thousand high-skilled jobs, have been revealed.
Property development firm Garrison Barclay Estates have announced long-term development plans at its Cardiff Edge Life Science Park which it acquired from healthcare giant GE Healthcare in 2018 in an £18m deal.
GE Healthcare then reduced its property presence at the park, which extends to around 37 acres, to occupy 100,000 sq ft of offices, laboratory and warehouse space.
After a successful marketing campaign the 65,000 sq ft of office space vacated by GE, which has undergone a £1.5m refurbishment, is now close to being fully let. Recent new tenants have included the WRU, Sure Chill, Bay Shipping and Defra (Department for Environment, Food and Rural Affairs).
Now Garrison Barclay Estates plan to invest tens of millions of pounds in creating a much needed new dedicated science park located at Junction 32 of the M4, targeting both health organisations and the life sciences sector from pharmaceutical to medical devices.
The first phase would see £38m invested to create five new self-contained buildings providing over 250,000 sq ft of R&D laboratory space and grade A office accommodation, as well as a 500 space multi storey car park.
In a significant boost, the scheme designed by architectural firm Powell Dobson, has been designated as a strategic development and employment site by the Cardiff Capital Region, which covers the 10 local authorities of south east Wales.
Subject to planning consent, construction is expected to start next year with the new accommodation being ready for occupancy in 2022.
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Longer-term the scheme includes plans for phases 2 and 3, which would provide an additional 225,000 sq ft with a further £40m of investment. There is also opportunity to significantly expand the science park by incorporating surrounding land in collaboration with Cardiff Council.
Director of Garrison Barclay Estates, Andrew McCarthy, said: “The property offer for life science is currently dominated by constrained sites. Over the past 24 months we have received significant enquiries from international science businesses who have shown strong interest to invest in South Wales so they can work alongside the NHS and the universities.
“Cardiff remains the hub for the life science sector and the park offers a rare opportunity for growth and to build a significant cluster as a centre of medical excellence.
“Our ambitious plans at Cardiff Edge Life Science Park are very much aligned to demand in the marketplace, from both public and private sector organisations, for new high spec research facilities and office space."
Mr McCarthy added: “The park is not only ideal to provide the space for expanding indigenous organisations, but also attract a new wave of health and life science investment into the Cardiff Capital Region.”
The science park, as well as accommodating established firms and health organisations, will target university life science spin-out companies. The city’s established spin-out facility, the Cardiff Medicentre, located at the University Hospital of Wales campus, and jointly owned by Cardiff University and Cardiff & Vale Health Board, is now fully let.
Mr McCarthy said the science park would like to develop ties with the existing Cardiff Medicentre and for Cardiff Edge Life Science Park to be the next step for businesses that have outgrown the centre which will then free up space for new start-ups. The park could also develop links with the proposed new Velindre Cancer Centre near to the park.