Next time you’re looking for commercial property in Liverpool, keep an eye out for the men in white coats. That’s not a reflection on you but is more to do with the emergence of Liverpool as a commercial property destination for the science industry.
Liverpool Science Park has just been awarded £7.6m to construct the third phase in the Liverpool project, which will see a 42,000 sq ft mix of commercial property, research and development offices and laboratory facilities.
The new Liverpool site will source occupiers by targeting the science sector, while offering reported “purpose-built starter pods” of commercial property to young companies considering setting up in Liverpool.
The owners of Liverpool Science Park are Liverpool City Council, the University of Liverpool and Liverpool John Moores University. Together these institutions will underwrite a £3.8m loan towards constructing the commercial property and a European Regional Development Fund grant will make up the balance.
Liverpool Science Park’s chief executive Chris Musson envisages the mixture of science facilities and commercial property potential will “provide world-leading opportunities for our current tenants and the region’s commercial knowledge economy”. The commercial property has been designed to accommodate a recognised demand for flexibility among laboratory-based firms who form part of the Liverpool business population.
It is hoped business start-ups seeking commercial property in Liverpool will find the starter pods ideal for networking with other new companies in similar industries.
Through commercial property innovations such as this, Liverpool is aiming to play its role in the Lisbon Strategy. This was an EU plan that ran between 2000 and 2010, which was designed to deal with concern over low productivity and economic growth in the EU. The idea was to nurture “the most competitive and dynamic knowledge-based economy in the world”. Areas of commercial property in regions such as Liverpool were targeted. Concepts of innovation, the learning economy – where knowledge is positioned at the heart of modern markets – and social and environmental renewal were central to the initiative.
Liverpool and the North West receive additional support from the Northwest Regional Development Agency (NRDA). This is a commercial property venture aiming to promote Liverpool and surrounding areas by “creating property infrastructure which entices innovative knowledge-driven companies and entrepreneurs”. The Liverpool Innovation Park is part of the NRDA’s commercial property portfolio, which alongside the Liverpool Science Park is putting Liverpool firmly in the commercial property spotlight.
The first two phases of the Liverpool development were completed in the latter part of the last decade. In 2006, the first phase, named ic1, was launched. Commercial property space joined with laboratory-friendly facilities across 40,000 sq ft. Commercial property availability ranges from 285 sq ft to 10,000 sq ft.
In 2009, ic2 welcomed commercial property occupiers to a further 40,000 sq ft of combined commercial property and Liverpool laboratory opportunities. Occupiers seeking commercial property in Liverpool were offered infrastructure specifically built to cater for technological companies, such ashigh-speed internet connections.
This latest phase is expected to be ready by summer 2013.
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