Newcore Capital Management, a social infrastructure investment manager, has secured planning consent for the development of a 105,000 sq ft (9,750 m2) life sciences centre adjacent to Imperial College London’s campus at Ascot on the edge of London.
The consent is for the repurposing and redevelopment of Silwood Science Park adjacent to Imperial College London’s Science and Technology Campus in Buckhurst Road. Designed by Sheppard Robson, the project includes the demolition of the existing business centre and construction of a new 56,000 sq ft life science centre, the refurbishment and retrofitting of five existing laboratory buildings, totalling 48,000 sq ft, and a 2,000 sq ft café pavilion and landscaping.
The consent is supported by Imperial College London, with the development part of its growth plans at Silwood Park.
Silwood Science Park is an asset in Newcore’s £150 mln value-add fund, Newcore Strategic Situations IV. Newcore was advised by Savills in the planning process and by . Hoare Lea, Gardiner & Theobald and Ramboll.
Harry Savory, CIO of Newcore, said: ‘We are pleased to have secured this important planning consent in partnership with Imperial and the local authority. Life sciences, particularly those linked to solving societal issues around healthcare and the environment, are essential to UK society and, hence, a core part of our strategy. We currently have other assets in the planning and development process in London, Oxford and Bristol and are keen to add to this portfolio.’
