The London Borough of Sutton has instructed JLL to search for a development partner for its proposed £350m life sciences campus, the London Cancer Hub, which has a GDV of up to £500m.
The borough owns a five-hectare (540,000 sq ft) freehold, which has the potential for 100,000 sq m (1.1m sq ft) of life science park and ancillary commercial space including retail, community uses, patient hotel/accommodation and new transport infrastructure.
JLL is seeking a development partner with experience in delivering large-scale life science and research and development accommodation. The search will be conducted through a competitive dialogue process.
Bidders will be required to: raise development finance; procure third-party contractors and supply chain management; undertake masterplanning, design and planning; and attract occupiers.
The site, which will create 10,000 jobs, is adjacent to the Institute of Cancer Research and Royal Marsden Hospital.
A formal procurement process will launch by the end of January, with the goal of appointing a partner by the end of 2019. The council aims to secure outline planning permission in 2020 and to complete the first phase of construction by 2022.
Chris Walters, strategic development consulting director at JLL, said the site aims to build on the proposition of the ICR and the Royal Marsden. He added: “It is more than just a local piece. The London life sciences market, in terms of stock, is crying out for extra space.
“Sutton has strong potential to solve some of that supply issue and provide space that is available to a range of tenants across the market – whether it is a small start-up needing incubator space, or a multinational.”
A development framework for the London Cancer Hub was prepared in 2016 and was endorsed by Sutton Council, the ICR and Royal Marsden. It also forms part of the mayor of London’s economic development strategy and is referenced in the Draft London Plan.
Nick Smales, assistant director for economic development and programme director for the London Cancer Hub at Sutton Council, said: “If we get anywhere near the vision we are trying to achieve, this site could become one of the most important sites in the world for cancer research.
“For us, this is not just about creating land value, but also social value for future generations of Sutton’s residents. The benefits for the borough are significant.”
The borough first began to acquire the site in stages from Epsom and St Helier University Hospitals NHS Trust in 2017.
The site, which extends to 21 hectares, also includes land owned by ICR and Royal Marsden.
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