University of Bath and South Gloucestershire Council team up to purchase Bristol & Bath Science Park
The University of Bath and South Gloucestershire Council have teamed up to successfully purchase the Bristol & Bath Science Park in a joint £18 million bid.
This has been supported by £5.765m from the West of England Local Enterprise Partnership through the Local Growth Fund, administered by the West of England Combined Authority.
The new owners will use their complementary strengths, expertise and networks to fully realise the park’s potential as a centre of excellence for research and development across the region. As a regional asset, the Science Park will provide an innovative space for businesses, helping to further strengthen the West of England’s position as a hub for sustainable economic growth.
The Science Park is in a prime location and provides an ideal base for national businesses. Plans for the 36 acre site will complement existing businesses based at the Park as well as exploiting regional science and engineering strengths. These include:
- Maximising the potential of the National Composites Centre (NCC);
- Creating GO2, a new Grow-on Centre, to build on the success of the existing complex;
- Utilising the Forum exhibition and conference facility to support additional SMEs.
The Science Park will also be home to the Institute for Advanced Automotive Propulsion Systems (IAAPS). The University of Bath was awarded £38.9 million to develop this £60 million facility, including £10 million from the West of England Combined Authority and Local Enterprise Partnership.
The Institute will exploit the engineering expertise of the University of Bath for the benefit of the UK’s automotive industry. IAAPS is projected to stimulate over £67 million in additional automotive research investment by 2025, creating a further turnover of £800 million for the UK automotive sector and supporting nearly 1,900 new highly productive jobs.