Prelet And Spec Launch Bruntwood's Birmingham SciTech Plans
Bruntwood SciTech has a 25K SF deal with an unnamed occupier lined up ahead of a potentail 100K SF expansion of the Innovation Birmingham campus, and the date in the diary is 2021.
Once the deals is completed, Bruntwood bosses are to kick-start the redevelopment of the existing 80K SF Innovation Birmingham campus on a larger scale than first anticipated, Business Desk reports.
Last year Bruntwood acquired the Birmingham Innovation Campus in a deal with Birmingham City Council.
A report to the council executive said: "The [campus] comprises Faraday Wharf, iCentrum and Universities Centre. There is potential for further significant development of the site, with around 90K SF remaining to be developed."
The news emerged as the University of Birmingham, advised by Avison Young, searches for a partner to develop Birmingham's new £300M life sciences park.
The task was to find a developer who could take on the remediated 9.9-acre site in Selly Oak, which already has outline planning consent for a 580K SF development.
Bruntwood has been in talks about the site, which would be a big win for the £360M tie-up between Bruntwood and Legal & General announced in October.
Bruntwood and Legal & General Capital have established a 50:50 partnership, Bruntwood SciTech, to drive science and technology growth in regional cities, with Birmingham a big focus for expansion. The deal will build on Bruntwood's acquisition in 2018 of the 80K SF Birmingham Innovation Campus, a move which was already expected to lead to a further 90K SF development. Nabbing the life science site would be a significant early win.
