University announces major investment for Science and Innovation Park

Tuesday, 16 July 2013

The University has announced its commitment to develop a new Science and Innovation Park at the heart of the Thames Valley with an investment of up to £50 million to establish the site infrastructure and phase one construction.

The Science and Innovation Park will play a key role in driving the region's knowledge economy, targeting technology-led companies seeking both a strategic location and access to the high-quality research and graduate support provided by the University.

Director of Research and Enterprise, David Gillham, said: "The Science and Innovation Park will build on the already established thriving community of knowledge based companies on campus in our Enterprise Centre and Science and Technology Centre at Earley Gate. Those companies are already generating mutually beneficial links to the University such as the development of knowledge transfer partnerships and through opportunities for student placements and graduate jobs. The Park is an important investment that will also generate profits that can be reinvested back into the University."

Vice-Chancellor Sir David Bell said: "The University's commitment to invest in a new Science and Innovation Park underlines the vital contribution this University makes to the Thames Valley's position as one of the most successful economic sub-regions in Europe. The provision of dedicated facilities and services will provide a platform for the regional knowledge economy to thrive.

"There is a substantial market in the region for such a facility, with no dedicated science park currently operating in the Thames Valley or London. Last week, the government published the initial findings of a review led by Sir Andrew Witty which placed the UK's world-leading universities at the heart of local and national economic growth. Reading is a shining example and the Science and Innovation Park will reinforce our position as one of the most forward-looking and entrepreneurial universities in the country."

The Park will be constructed on a University-owned site in Shinfield, alongside the M4. Phase one of the development will create 150,000-200,000 sq ft in three multi-tenanted office and laboratory buildings, including a Gateway building. The project will be under the single ownership of the University.

An initial investment of £25 million has been approved to create the site infrastructure and first three buildings, followed by a further £25 million, in time, to complete phase one. The Science and Innovation Park is a long-term development and is likely to take 20-25 years to be fully developed.

The University, in partnership with Wokingham Borough Council, has secured an investment of almost £25 million for the Shinfield Eastern Relief Road, a key infrastructure development to underpin access to the Science and Innovation Park as well as the Shinfield West housing development.