UBS Asset Management and Reef Group have been given the go-ahead to deliver a £900m life science campus in Stevenage, Hertfordshire.
The proposals were submitted to Stevenage Borough Council in May this year.
The 15-building scheme, to be known as Elevate Quarter, will be located alongside GSK’s existing global research and development facility and the Stevenage Bioscience Catalyst hub.
The campus will provide 1.6m sq ft of research and development space, offices, good manufacturing practice facilities and flexible lab buildings, as well as training, innovation and collaboration spaces.
In addition, there will be employee and visitor amenities, including restaurants, cafes, and leisure facilities.
Green Transport Hubs are also planned, which will provide multi-storey car parking, bike parking and potential scooter/e-bike hire spaces.
The partners expect to start construction in late 2023, with completion targeted for the final quarter of 2025.
Stevenage is already a home to over 40 life sciences organisations employing over 3,500 people, including GSK, the Cell and Gene Therapy Catapult, LifeArc and Cytiva.
Reef Group joint chief executive Piers Slater said: “Stevenage is ideally positioned to attract talent and the campus will facilitate further collaboration between multinationals and biotechs.
“The campus has been designed to allow these life science businesses to grow and scale-up over time and to create an open and accessible environment for both employees and the wider public.”
UBS portfolio manager of real estate and private markets Olivia Drew said: “The new campus will support thousands of new jobs and boost the UK’s position as a global life sciences leader.”
The approval comes shortly after industry experts have urged the UK government to find a solution that will boost life sciences-related real estate development amid global competition.
See more planning information for Stevenage>>
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