Liverpool Science Park secures £7.6m to build third phase
Liverpool Science Park (LSP) has been given the go-ahead for its third phase, after securing £7.6m of funding.
Innovation Centre 3 (IC3) will see the creation of 42,000 sq ft of research and development offices and laboratory facilities.
These will offer space to the city region’s life sciences and physical sciences sector, as well as purpose-built starter pods for young knowledge- based companies.
IC3 will be built close to LSP’s existing buildings, in the shadow of the city’s RC Metropolitan Cathedral.
LSP’s owners, Liverpool City Council, the University of Liverpool and Liverpool John Moores University, will underwrite a £3.8m loan taken out by LSP towards the construction costs, with the balance of £3.8m being provided by the European Regional Development Fund (ERDF).
Construction is expected to start in late spring 2012 with the facility ready to open in summer, 2013.
LSP chief executive Chris Musson said: “Confirmation of funding for IC3 is a key moment in Liverpool Science Park’s evolution and will provide world-leading opportunities for our current tenants and for the region’s commercial knowledge economy.
“From our experience, laboratory-based small firms demand flexibility, and our laboratories and flexible leasing policy will enable the creation of a new and vibrant tenant mix.
“We are answering a need and sending a clear message nationally to science-based companies that Liverpool is a high-quality destination for commercial knowledge enterprise.
“Similarly, the new starter pods will make LSP the destination of choice for any young entrepreneurs wanting to mix with like-minded companies and will set LSP apart as a place where knowledge-based companies from any discipline can work and collaborate together.”
IC3 will be built on a 0.55 hectare site over the existing car park of IC1, off Mount Pleasant, to the south west of the cathedral.
It will feature flexible office space, fully-serviced laboratories over three floors, meeting rooms, car parking, and secure cycle storage.
Detailed planning permission was granted for the four-storey building in October last year.
Sir Howard Newby, vice-chancellor of the University of Liverpool and chair of the LSP board, said: “Liverpool Science Park was created as the special purpose vehicle to support and drive forward Liverpool’s commercial knowledge economy and IC3 marks another exciting chapter in our long-term plan.
“The laboratories in IC3, combined with the floor of laboratories to be built in IC2, will be a great asset to the city region.”
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