Property provider Bruntwood SciTech, dedicated to the growth of the science and technological sector, has expanded into the “Golden Triangle” through the acquisition of Melbourn Science Park from independent technology and product development company TTP for £46.2 million.
Bruntwood SciTech will work closely with the local planning authority to develop the site; expanding its national network of innovation districts, forming a new strategic partnership with TTP, and creating a long-term vision for this science and technology cluster just south of Cambridge city centre.
Bruntwood SciTech and TTP’s collaboration will enable the growth and development of the park, and establish a new Innovation Services program. The expansion is a commitment to the development of specialist infrastructure and ecosystems to support the growth of the UK science and tech sector, creating over 20,000 high value jobs over the next decade.
This partnership will give Bruntwood SciTech’s community access to over 500 science and technology businesses with additional access to venture capital, new markets, products and prototyping opportunities. For TTP, there is leverage through the park’s new life sciences incubator, elevating their expertise in science and engineering innovation and creating new exclusive links across Bruntwood SciTech’s network of innovation districts. Eleanor Jukes, Senior Investment Manager, Legal & General Capital said: “In the wake of Covid-19, the continued expansion of the UK’s life science sector is increasingly important.
Melbourn Science Park is currently home to freeholder TTP, as well as companies including AstraZeneca, SPT Labtech, Cellular Highways and LEX Diagnostics. Kate Lawlor, Chief Executive of Bruntwood SciTech, said: “Establishing a presence in Cambridge creates a vital new connection between the Golden Triangle and some of the UK’s other leading innovation districts in Manchester, Leeds, Liverpool and Birmingham. It further enables us to support the levelling up the UK economy, building our network to increase the flow of investment, talent and capital into the UK science and tech sector.”