GlaxoSmithKline is seeking a development partner to transform its 92-acre R&D site in Stevenage into the UK’s second-largest life sciences cluster.
The British pharmaceuticals group has appointed Cushman & Wakefield to find a partner later this year.
GSK believes that the project could unlock up to £400m of investment from a private sector developer. The site is estimated to offer a potential 2.5m sq ft of space, depending on planning permission, compared with the 4m sq ft currently in Cambridge.
GSK is also looking to sell 33 acres of its Stevenage site, which could potentially provide more than 1m sq ft of new floor space for commercial life sciences research and development.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
