Harwell Campus and Santander announce £110 million funding to fuel 400,000 sq ft development for UK science and tech community

Development the size of Wembley Stadium to include scientific facilities and office space for private, public and academic organisations

Harwell Campus to become fastest growing space dedicated to science and technology with 1million sq ft of development in under eight years

Harwell Campus, the UK’s science and innovation hub, has secured £110 million funding from Santander Corporate & Commercial to further expand the Campus, and enter its next 400,000 sq ft phase of development. Santander has assisted with growth that will exceed 1 million sq ft in under eight years. With a total of 5.5 million sq ft planned development, Harwell Campus is rapidly becoming the fastest growing UK location dedicated to the science and technology sector.

Catering for science and technology organisations at every stage of their growth, the development will further expand Harwell’s unique portfolio of hybrid buildings, offering flexible space comprising offices, laboratories and high-tech manufacturing facilities. As well as being the UK headquarters for multinationals, Harwell offers business incubation from Seed or Series A, and throughout their lifecycle. The Campus provides free business service workshops covering legal, financial, and marketing advice, networking events, and access to an onsite network of corporates, public agencies and venture capital firms to collaborate with, and access funding from.

Europe’s largest collection of open access scientific facilities, worth over £2billion is located at Harwell. Companies looking to grow at pace, or explore new markets, can advance their research, validate and test their technology, and tap into the knowledge and skills of the 5,500 people strong science and tech Campus community. Focusing on the core sectors of Life Sciences, Energy and Space, and with an estimated Gross Value Added of more than £1billion, these investments generate impressive returns in terms of job creation and national economic growth.

According to a recent report, Oxford and Cambridge are estimated to need 2.5 million sq ft (the equivalent of 40 football fields) of laboratory and research space to accommodate growth. It is predicted that meeting this target would contribute £2.8 billion to the UK economy. With this development at Harwell Campus – the equivalent of the UK’s largest stadium, Wembley, or 7 football fields – the UK is already making strides towards meeting this target.

William Cooper, Partner in the Joint Venture at Harwell Campus, said: “This round of funding enables us to expand our unique portfolio of attractive hybrid buildings. Having Santander alongside us puts Harwell in a strong position for continued growth in order to meet the pent-up demand for 2.5 million sq ft of research labs in Oxbridge alone.”

Harwell and Santander continue their shared commitment to investing in the UK’s science and technology sectors, and growing the UK’s knowledge economy.

Lance Anelay, Real Estate Finance Director, Santander Corporate & Commercial, said: “We have supported the expansion of Harwell Campus through five construction schemes over the last eight years and we are excited to be working alongside them once again. The new facilities will further enhance Harwell’s profile within the global scientific community and provide a boost to the UK economy.”

Angus Horner, Partner and Director of Harwell Campus, said, “Our relationship with Santander is born out of our mutual commitment to stimulate the UK’s science and tech sectors, drive economic growth in the UK and boost the nation’s standing in the global market.

With a total of 5.5 million sq ft of planned development Harwell Campus is one of the most ambitious regeneration and rejuvenation projects happening right now in the UK property sector.”

Harwell Campus is rapidly expanding via a private public partnership between Harwell Oxford Partners and U+I, plus two Government backed agencies, the Science and Technology Facilities Council (STFC) and the UK Atomic Energy Authority (UKAEA).

Tom Edgerley, Development Director at U+I, a partner in the joint venture at Harwell Campus, said: “The success of Harwell is based on great partnerships, and the latest funding news is testament to this. Harwell is an example of the far-reaching benefits successful public private sector partnerships can bring – not just to investors and developers, but to the communities that use the final development. We’ve been involved in the partnership at Harwell for 5 years and during that time we are proud to see continued growth and new discoveries emerging from the Campus.”

Eastdil Secured acted as financial advisor to Harwell on the transaction.

Ends

References:

Delivering R&D Potential For The UK, Bidwells YouGov Survey 2019. Accessed February 2019 https://www.bidwells.co.uk/insights-and-research/delivering-r-and-d-potential-for-the-uk/
Notes to Editors:
Harwell Science and Innovation Campus

Sitting on 710 acres of AONB, south of the historic city of Oxford, Harwell is home to public, private and academic organisations working in the science and technology sectors, and knowledge economy.
 
The Government’s confidence that Harwell is central to the success of the UK economy is evident from a £277 million of investment since 2017 which saw the new Faraday Institution (£78 million) and Rosalind Franklin Institute (£100 million) open on the Campus and will see the National Satellite Testing Facility (£99 million) located on the Campus in 2020.
 
Harwell Campus operates a multi-disciplinary cluster approach to research and development, commercial innovation and scale-up. The cluster model catapults scientific innovation forward. It creates an ecosystem where research is rapidly accelerated through successful commercial outputs to high-tech manufacturing. 
 
With a heritage of 75 years Harwell has been at the forefront of British innovation and discovery ever since nuclear energy was generated for the first time in Europe (1947), CADET - the world’s first transistorised computer was created (1953) and Dr Mary Lyon discovered X chromosome inactivation (1961)
Santander UK

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 31 December 2018, the bank has c23,800 employees. It serves around 15 million active customers, via a nationwide branch network, telephone, mobile and online banking; and 64 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

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