Occupier expansion drives value of Manchester Science Partnerships to £58.5m

Science park operator Manchester Science Partnerships (MSP) is celebrating after achieving a year of growth driven by its customers flourishing and expanding.

MSP, which said it also saw an increasing demand from new occupiers, reported a 33% year-on-year surge in its net worth to £58.5m.

Occupancy levels at the company’s Corridor Manchester operations, meanwhile, reached 94% in the period.

At MSP’s Alderley Park in Cheshire, the group said its transformation plan is gathering pace. Earlier this year Cyprotex, part of German drug developer Evotec AG, relocated its UK operation to the scheme from Macclesfield.

Further, a 10-year masterplan for up to 275 homes, a gastro-pub, hotel and leisure facilities was approved by Cheshire East Council in February 2016.

April last year saw its Alderley Park, Manchester Science Park and Citylabs campuses all granted Enterprise Zone status. MSP hopes the decision will result in increased occupier interest.

Elsewhere, MSP continue to invest in the delivery of new locations in 2016 – among them the £60m two-phase expansion of its biomed campus Citylabs.

The investment is due to create 750 high-value jobs and boost Manchester’s economy by over £100m.

Rowena Burns, the company’s chief exec, said: “MSP’s ownership structure and relationship with the city is unique, and gives us the opportunity to play a pivotal role in delivering growth and high value jobs in the knowledge economy.

“The international interest in the city region was palpable recently, at both MIPIM in Cannes, and at South by Southwest in Texas.”

She continued: “It will only intensify as Manchester’s national Internet of Things demonstrator CityVerve gathers pace and the health devolution agenda advances.”

2017, Rowena added, will be a “landmark year” for MSP.

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