Partner Article

Bruntwood announces acquisition of Alderley Park

Bruntwood has today announced the acquisition of the Alderley Park, AstraZeneca’s 400 acre, global R&D site in Cheshire. The commercial property company is acquiring the Cheshire site with its subsidiary Manchester Science Parks (MSP) and Cheshire East Council, furthering its investment in the science and technology sectors.

The close of 2013 saw Bruntwood complete the refinancing of its £600m debt with this purchase kickstarting the next phase of growth for the company. The company recognises the necessity to evolve in response to the changing needs of its customers and markets. Bruntwood became a majority shareholder in MSP in 2012 with a vision to grow that business and contribute to the investment currently underway on the Manchester Corridor on Oxford Road.

Chris Oglesby, Chief Executive of Bruntwood and Chairman of MSP said: “The science and technology sectors are at the forefront of growth within the UK economy and in particular the Manchester city region. This is truly a unique opportunity and it was natural for us to build on our success at MSP. Our aim is to take one of the best invested sites in the world and build a sustainable business environment by linking the assets on the Manchester Corridor with Alderley Park.

“This doesn’t signify a move away from our core business as a city centre office provider. Our business model has proven to be successful where we are able to create significant mass and concentration. Alderley Park allows us to replicate this model through its sheer scale and re-create an urban business community in a parkland environment. We have already seen demand for such sites with our recent outline planning consent to double the amount of space on offer at Booths Park in Knutsford.”

This was posted in Bdaily's Members' News section by Dan Minchin .