Europe’s most ambitious innovation district cements deal
Announced today, the ID Manchester project has taken another important step forward, with completion of the £1.5 billion joint venture between The University of Manchester and Bruntwood SciTech.
The University and Bruntwood SciTech, a 50:50 joint venture between Bruntwood and Legal & General, have completed legal documentation which will see them work in partnership to enhance, develop and deliver an innovation district that will be at the forefront of global innovation, cementing the UK’s position as a world-leading science and technology innovation hub.
Bruntwood SciTech, the UK’s leading property provider dedicated to the growth of the science and technology sector, was announced by the University as the preferred bidder last summer. ID Manchester will provide vital specialist infrastructure to power the growth of the knowledge economy and unlock the commercialisation of R&D innovation, with the potential to create more than 10,000 jobs over the next 10-15 years. It will be a place of inclusive innovation, home to the most exciting new ideas and ventures that address some of humanity’s greatest challenges and opportunities.
When complete, ID Manchester will be the base for a global community and an exemplar for a new approach to sustainable development. It will provide more than four million sq ft (370,000 square metres) of space, including 2.6 million sq ft (240,000 square metres) of new commercial workspace, 1350 apartments, 2 hotels, and a £28 million investment in the public realm that will provide a focal point for a vibrant events programme.