Sciontec Liverpool, a £12m development company aiming to grow the city region’s science and technology sectors, has selected Bruntwood SciTech as the preferred bidder to become its private investment partner.
Bruntwood SciTech, a joint venture between Bruntwood and Legal and General, will acquire a 25% stake in the development company and become the fourth shareholder.
Other shareholders include Liverpool City Council, Liverpool St John Moores University, and the University of Liverpool.
Sciontec Liverpool aims to expand its asset value beyond £40m in the next 12 months.
It will refurbish and expand Liverpool Science Park and develop the 160,000sq ft office No.5 Paddington Village.
Professor Dame Janet Beer, Vice-Chancellor of the University of Liverpool and Chair of Sciontec Liverpool, said: “We are delighted to be taking Bruntwood SciTech through as our preferred bidder and look forward to the opportunity to work with them as a shareholder in the new development company, upon completion of the legal process.
“Plans are already in place to modernise and expand our existing science and tech assets, whilst developing new world-leading facilities, and this collaboration will help us achieve that.”
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