Edinburgh BioQuarter has formally launched its public procurement process for a private sector partner to bring forward the £1bn health innovation district.
BioQuarter, which sits just three miles south of Edinburgh city centre, is expected to be worth around £140m a year to the Scottish economy in the next decade, employing almost 13,000 people and helping more than 200 health innovation companies to grow.
Over the lifetime of the development there is the potential to grow to a health innovation community of 20,000, with 2,500 homes on site.
A joint venture between City of Edinburgh Council, regional development agency Scottish Enterprise and the University of Edinburgh will lead the procurement process for the 64 acres of developable land up for grabs.
The chosen private sector partner will be responsible for raising development funding to deliver the vision for BioQuarter.
Ivan McKee, Scottish Government minister for business, trade, tourism and enterprise, said: “This is a once-in-a-lifetime opportunity and one of the most exciting investment and collaborative opportunities with far-reaching benefits for investors, local communities and global health innovators alike. It shows that Scotland is very much open for business.
“With the commitment of its public sector partners, BioQuarter has had more than £600m of public capital investment, with even further investment planned by them over the next five years. It has played a key role in Scotland’s successes in the life sciences sector, which has a turnover of £6.5bn and employs more than 41,000 people.
“A private sector partner will help deliver a globally significant health innovation community of researchers, academics and clinicians, and will continue to foster entrepreneurship, supporting as many as 200 new companies.”
Adam McVey, leader of City of Edinburgh Council, added: “The expansion of the BioQuarter is a key part of Edinburgh’s economic future – an area earmarked for life sciences development supporting wider growth and regeneration in the south-east of the city.
“Edinburgh BioQuarter has the potential to bring in billions of pounds of investment, with lasting benefits for local people, connecting jobs, education and opportunities to nearby areas such as Greendykes and Craigmillar, where we’re also making major investments in regeneration.”
Bids for the opportunity close on 10 December.
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