As the search for an investment partner begins, the development company has revealed proposals for the next scheme at Liverpool’s Paddington Village, a 120,000 sq ft office targeted at the creative and scientific industries.
Sciontec, a development company jointly owned by the council, Liverpool John Moores University and the University of Liverpool, was launched last month and has now started the search for an investor to help deliver the next tranche of projects at the Knowledge Quarter and Paddington Village.
No5 Paddington Village is the next scheme to come forward and a start on site is targeted for next year. The 120,000 sq ft scheme is designed to provide grow-on space for science and technology occupiers; unlike The Spine, the home of the Royal College of Physicians at the Knowledge Quarter, it is unlikely to be targeted at a single occupier.
A two-stage process to find a development partner to take a 25% stake in Sciontec has now begun, looking for investment professionals and high net worth companies, funds, partnerships and trusts; the partner will need to have at least £5m in share capital to be involved.
Initial expressions of interest are expected by 12 April this year, and a shortlist is expected to follow in May. Sciontec’s team also includes EY as financial advisor; CBRE on property & investment advice; and DLA Piper as legal advisor.The visuals for the scheme are by Ares Landscape Architects.
Colin Sinclair has been appointed as the interim chief executive of Sciontec Liverpool, whilst retaining his strategic and placemaking role at KQ Liverpool.
Speaking at the launch at MIPIM this morning, Mayor of Liverpool Joe Anderson said: “The knowledge sector is at the heart of our growth strategy for Liverpool with health and education crucial to our goals in raising aspirations, attracting quality jobs and growing our overall economy.
“Through the designated Mayoral Development Zone, Paddington Village and now Sciontec Liverpool, we continue to demonstrate our commitment to developing new opportunities for growth in and around the Knowledge Quarter and the wider city region.
“Our aspirations for Sciontec Liverpool give us the scope to expand that activity at locations across the city and we are looking forward to finding a new investment partner who will join us to deliver schemes that will ultimately combine to help businesses boost productivity, become more sustainable, employ more people and pay higher wages.”
Sinclair added: “Last year at MIPIM, we made clear our intentions to bring together the city’s existing science and tech buildings, such as Liverpool Science Park and Sensor City, while also developing and operating new world-leading science and tech workspace and labs in Liverpool.
“The creation of Sciontec Liverpool embodies the first step in our vision to create the most innovative buildings in the world and develop a wider eco-system that benefits from economies of scale and is somewhere that spin-outs, start-ups and SMEs can flourish, while also attracting greater inward investment.
“We have a bold, deliverable plan to stimulate innovation and prosperity across the city and we are actively seeking organisations who share our vision.”
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