Sciontec was formed out of the city’s £2bn Knowledge Quarter earlier this year and aims to to create new world-class science and tech workspaces. Tony McDonough reports
Knowledge Quarter Liverpool’s (KQ Liverpool) new £12m development company Sciontec has chosen Bruntwood Sci-Tech as its preferred bidder to be its private sector investment partner.
Sciontec was formed out of the city’s £2bn Knowledge Quarter earlier this year and is a partnership between Liverpool City Council, the University of Liverpool and Liverpool John Moores University to create new world-class science and tech workspaces.
The deal will see Bruntwood SciTech – a joint-venture between North West property firm Bruntwood and Legal & General – become the fourth shareholder, acquiring a 25% shareholding in Sciontec Liverpool.
The partners believe that the deal, subject to the completion of the legal process, will act as a catalyst for exponential growth across the Liverpool city region. They have highly-achievable aspirations to expand asset value beyond £40m in the next 12 months and discussions with a number of parties are already at an advanced stage.
First-step projects for the new partnership will include the planned refurbishment and expansion of Liverpool Science Park and the development of No 5 Paddington Village, a 160,000 sq ft office for the creative and scientific sectors.
Professor Dame Janet Beer, Vice-Chancellor of the University of Liverpool and chair of Sciontec Liverpool, said: “Plans are already in place to modernise and expand our existing science and tech assets, whilst developing new world-leading facilities, and this new collaboration will help us achieve that.”
Bruntwood, an active investor in Liverpool city region for more than 25 years, created Bruntwood SciTech in 2018 as a joint venture with Legal & General. It creates the environments and ecosystems that enable companies in the science and technology sector to form, collaborate, grow and scale.
Phil Kemp, chief executive of Bruntwood SciTech said: “Liverpool city region has a tremendous opportunity to grow its innovation space and become one of the world’s most forward-thinking innovation districts.
“It has outstanding universities, an exemplary NHS Trust and is already globally leading the market in innovations in materials chemistry, high-performance computing and AI.
“Being selected as Sciontec Liverpool’s fourth shareholder will strengthen our relationships within the city, providing increased opportunities for science and tech businesses to start, scale and grow and access links into our network of thriving innovation districts.”