Bruntwood SciTech Selected to be New Knowledge Quarter Investment Partner
In its latest major science and technology partnership in the North West, Bruntwood SciTech has been named private sector partner in Sciontec Liverpool, the Knowledge Quarter’s spin-out development company, taking a 25% stake in the venture.
The first projects lined up for the partnership will be No5 Paddington Village, a 160,000 sq ft office for the creative and scientific sectors, along with the planned refurbishment and expansion of Liverpool Science Park.
Sciontec was launched in February this year, and is jointly owned by Liverpool John Moores University, Liverpool City Council, and the University of Liverpool, with Bruntwood SciTech now on board as the fourth partner. The company is now looking to expand its asset value beyond £40m in the next 12 months, and said discussions with “a number of parties” were “already at an advanced stage”.
Colin Sinclair is acting as chief executive of the company, whilst retaining his strategic and placemaking role at KQ Liverpool. Sinclair previously spent seven years as a director at Bruntwood.
Bruntwood SciTech was formed in 2018 as a joint venture between Bruntwood and Legal & General, with the aim of creating 20,000 science and technology jobs across Manchester, Leeds, Liverpool, Cheshire, and Birmingham. Mayor of Liverpool, Joe Anderson, said:
“The Knowledge Quarter is one of the most exciting science and tech initiatives in the country with the potential to transform Liverpool’s economy into the high value knowledge-based economy our city deserves. It’s a sign of its potential that we have been able to attract the two high quality companies behind Bruntwood SciTech.
“Bruntwood’s history of investing in the city includes cultural partnerships with significant social impact as well as property, and alongside Legal & General, Sciontec has an incredibly strong start in pulling Liverpool ahead of other cities with an innovation district buzzing with new ideas and economic opportunity.”
Sciontec Liverpool was advised by DLA Piper UK LLP, CBRE NW Capital Markets and CBRE Indirect Investment Services, during the bid process and shares transition.