The South West of England Regional Development Agency (SWRDA) and the Universities of Bristol, Bath and West of England wished to develop a new science park in Bristol. To do so they went to the market to select a private sector development partner. Our client, Quantum Property Partnership (a joint venture (JV) between Quintain Estates and Development plc and Aviva plc) was established to invest in the science park sector and needed assistance in its efforts to be selected. Advice was required on the potential for the science park, the structure of the JV and how best to work with the public sector partners to greatest effect.
The Creative Places team acted in appraising the opportunity, working to build relationships with the public sector partners and ensuring the JV agreement provided practical steps to ensure the parties understood each others requirements and could work effectively together.
Quantum were successful in being selected to develop the science park and the JV agreement provides for them to carry out masterplanning, submit reserved matters planning applications for development and draw land down for early development. The first building, the Forum is now complete and offers a hub for the science park and award winning accommodation for early stage and more mature businesses. The National Composite Centre has built a facility at the park and now forms part of the High Value Manufacturing Catapult.