Partner sought for £1.7bn Newcastle life sciences expansion

Newcastle City Council, with the support of Invest Newcastle, is looking to appoint a funding partner to expand the North East’s £1.7bn life sciences ecosystem. The opportunity comprises the acquisition of a 90,057 sq ft lab facility, known as the Biosphere, and three potential development plots on 1.7 acres of brownfield sites. The development forms a part of Newcastle Helix, an innovation district in the city centre that is also home to more than 20 businesses, including the National Innovation Centre for Ageing and the National Innovation Centre for Data. Jen Hartley, director at Invest Newcastle part of NewcastleGateshead Initiative, said: “There is already huge interest in Newcastle as a leading UK location in which to invest, develop or locate a life sciences 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 JLL. The North East Local Enterprise Partnership has provided funding for the council. To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews View top and average rents in Newcastle >> See which agents have been doing the most deals in Newcastle in our On-Demand Rankings >> Photo from Gary Bell, Elemental Photography