Bruntwood SciTech named as preferred bidder to deliver ID Manchester
The University has announced Bruntwood SciTech, the UK’s leading property provider dedicated to the growth of the science and technology sector, as its preferred bidder to deliver the £1.5 billion innovation district – ID Manchester.
The internationally-significant project will cement the UK’s position in the science and technology sector; providing vital specialist infrastructure to power the growth of the knowledge economy and unlock the potential to commercialise R&D innovation, supporting the UK to build back better and level up.
The University and Bruntwood SciTech, a 50:50 joint venture between Bruntwood and Legal & General, will now form a new joint venture to enhance, develop and deliver the vision to establish ID Manchester as a new innovation district, home to a global community that will play a vital role in the future of the UK science and technology sector, with the potential to create more than 10,000 new jobs in the next 10 to 15 years.
The University and its partners will bring their skills, experience and expertise to the joint venture with the University contributing the land as part of the deal, and the partners providing financial investment.