Newcastle is looking for an investor to accelerate the growth of North East England’s £1.7bn life science eco-system.
Dedicated to the commercialisation of life sciences and based on Newcastle Helix, The Biosphere launched in 2018 as a publicly funded project and is now home to more than 20 businesses, forming a vibrant and innovative life science cluster on Newcastle Helix.
Huge demand for commercial lab and office space at The Biosphere means Newcastle City Council, with the support of Invest Newcastle are looking to appoint a partner with an ambition to expand and enhance the lab offering in the city and to ensure existing and future occupiers can continue to thrive and grow.
This opportunity will be showcased at UK REiiF, the UK’s Real Estate Investment and Infrastructure Forum that is held in Leeds between May 16-18th, where investors are encouraged to visit the Invest Newcastle Pavilion 19 to find out more.
As well as to support growth and satisfy life science demand, the chosen investor will play a part in the development and regeneration story of Newcastle Helix, a vibrant innovation district in the heart of the city centre that is also home to the globally recognised National Innovation Centre for Ageing and National Innovation Centre for Data.
Jen Hartley, Director at Invest Newcastle part of NewcastleGateshead Initiative said:
“This is a once in a lifetime opportunity to be part of Newcastle’s life science eco-system, right in the heart of our city centre and £1.7bn eco-system, supporting us to meet the growing demand we are seeing from spinouts, start-up, and global brands.
“There is already huge interest in Newcastle as a leading UK location in which to invest, develop or locate a life science business and securing a private sector investment will be critical to the growth of the sector and building on our reputation globally as a UK hotspot for the commercialisation of life sciences.”
Newcastle City Council is being advised by property consultancy JLL.
Commenting on this UK Life Science opportunity Chris Walters, Head of UK Life Sciences at JLL said:
“Newcastle is a proven hotspot of innovation with multi-faceted collaboration between public and private stakeholders. Building on the success of The Biosphere, this unique investment opportunity will enable the delivery of much needed commercial lab space to a burgeoning cluster in the North East ”
Newcastle has become UK hotspot for life sciences with almost 130 innovative and ambitious life science companies located in the city, employing more than 4,000 people and raising £256m in investment between 2017-2022. The life science eco-system is at the forefront of global innovation, leveraging research and development and support from their world-leading universities and outstanding NHS Hospital Trusts, which are among the largest and highest achieving in the country.
Newcastle University is the 12th best university for Life Sciences & Medicine and the 4th best university in the UK at producing life science spin outs outside the Golden Triangle, with 90% of these spinouts still based in Newcastle and 65% located within the eco-system on Newcastle Helix.
Investors have the option of acquiring the existing income producing 90,057 sq. ft GIA lab facility known as The Biosphere and the option of drawing down three potential further development plots on Newcastle Helix, totalling 1.7 acres of brownfield sites.
The North East Local Enterprise Partnership (NELEP) has provided funding for Newcastle City Council to support this investment opportunity.
Photo credit: Gary Bell, Elemental Photography