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Developer selected for SPark - The Bristol and Bath Science Park

Press release issued: 20 April 2006

Plans for SPark, The Bristol and Bath Science Park, in which the University of Bristol is closely involved, have taken a major step forward today with the news that a private sector developer has been chosen to partner the South West of England Regional Development Agency in the project.

Plans for SPark, The Bristol and Bath Science Park, in which the University of Bristol is closely involved, have taken a major step forward today with the news that a private sector developer has been chosen to partner the South West of England Regional Development Agency in the project.

Quantum Property Partnership, a joint venture between Quintain Estates and Development PLC and Morley Fund Management, has been selected to act as the development and funding partner in the creation of SPark.  The Agency has already committed £30 million to develop a new £300 million science and technology park at Emerson’s Green, Bristol.

Quantum’s role will be to fund and develop roads, services and initial buildings for the first 22 hectare phase of the park. This includes building a 3,200 sq m innovation centre which will act as the hub building on SPark and an ‘grow on’ centre which will provide stepping stone space for companies as they develop. This first phase will have an anticipated value of £200 million.

Ian Thompson, director of operations (North) at the South West RDA, said: “Quantum Property Partnership involves two of the leading players in the UK property industry with a proven track record of delivering large-scale complex projects such as SPark and we are confident that, together, we can create one of the leading science parks in Europe.

 “Quantum’s proposals place a priority on delivering a science park that is both sustainable and of very high quality, which closely match the Agency’s aspirations for a development of this importance to the region.

“SPark will play a key role in nurturing high value knowledge-based industries in South West England, providing a natural home for these businesses.”

Commenting on behalf of Quantum, Tonianne Dwyer of Quintain said: “This is an extremely exciting project that will transform the provision of specialist accommodation for science and technology companies in the Bristol area.  We are delighted to have been selected as the preferred developer for SPark and look forward to working closely with South West RDA and the three universities to deliver the scheme.

“There is a wealth of science-related industry and latent talent in South West England and we hope that the development of a world-class science park will allow both established science and research businesses to maximise their potential and new or fledgling science companies to be fostered and supported.”

Jon Ashcroft from Morley added: “Morley is the largest UK and European property fund manager with significant investments in South West England including active developments at St Mary Le Port, Bristol and Southgate Shopping Centre, Bath.  We are pleased to be able to continue to partner with the region through this investment.

“Morley offers a wide range of Funds for investors to access specific property sectors not otherwise readily available.  Combined with Quintain's knowledge of the sector and Morley's existing investments in science parks, the Quantum Fund is seeking to acquire quality parks to offer market leading management to investors and occupiers in this dynamic sector.”

SPark is a partnership between the South West RDA and three universities - the University of Bristol, the University of Bath and the University of the West of England - which will build on the first-class existing research and knowledge base in the area.

The Agency owns 22 hectares of land between the M4 and the Avon ring road at Emerson’s Green on Bristol’s North fringe.  This was bought to help deliver the first phase of a new science and technology park comparable in size and scope to the best in the UK such as Cambridge, Oxford and Warwick. Planning consent has been granted for creating a total of 77,000 sq m of space that will be used for science and technology.

SPark is expected to create around 6,000 highly skilled jobs, with demand for the park coming from established key sectors in the region, including aerospace and defence, digital technologies and biotechnology.

Subject to detailed planning permission being granted, construction work is expected to start on site in spring/summer 2007 with the first buildings available for occupation in spring 2008.

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