The partners behind a proposed £1bn London cancer hub have begun a search for investment and development partners.
JLL has been appointed as commercial adviser for the proposed 3m sq ft life sciences district and global hub for cancer research and treatment in Sutton, south London.
The hub is a partnership between the Institute of Cancer Research, London, the Royal Marsden NHS Foundation and the London Borough of Sutton. It will double the size of the institutions’ current research and treatment space.
The project aims to build on the world-leading positions that the partners already hold.
ICR is a global leader in discovering new cancer drugs and the Royal Marsden is an international centre of excellence for cancer treatment.
The phased development comprises 29 plots around a network of streets and public spaces, comprising different uses from commercial to healthcare.
It is expected the project will be built out over a 20-year period.
The development framework proposes 1m sq ft of new commercial space which will target life sciences occupiers including biotech, pharmaceutical and software companies and equipment manufacturers.
JLL is advising on the proposed partnership structure, which will be decided over the next couple of months. The opportunity will then be formally pitched to the market early next year.
In March, Sutton council acquired a 237,000 sq ft plot of land from Epsom & St Helier NHS Trust to unlock the site.
The council is in talks with central government to secure funding for a £200m Tramlink extension to the area and ensure housing and infrastructure in the area are upgraded and connectivity to the proposed site is enhanced.
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