Planning permission has been granted for a former TK Maxx outlet and two other stores in the middle of Stevenage, Hertfordshire, to be knocked down and replaced with laboratories.
The £500m development, funded by UBS Asset Management and designed by Reef Group, will comprise four laboratories, delivering 450,000 sq ft of space. UBS and Reef are also including space for between five to seven shops and restaurants, as well as a new cinema and a multi-storey car park.
Reef, again with UBS’s backing again, is also working on plans to build 1.4m sq ft of laboratory and office space on land next to GSK’s campus.
