UBS Asset Management’s Real Estate & Private Markets and Reef Group have formed a joint venture as the investor and co-developer for a major campus for life science businesses in Stevenage, Hertfordshire.
The new campus, which will be one of the largest of its kind in the United Kingdom and Europe, will be built alongside GSK’s existing Global R&D center in the town. UBS Asset Management and Reef are expected to deliver up to £900 million (€1.0 billion/$1.1 billion) of new investment alongside an estimated 1.4 million square feet of laboratory and office facilities, providing space for up to 5,000 new jobs.
Plans for the campus were initially announced in 2021 and build upon the existing presence of both GSK and Stevenage Bioscience Catalyst (SBC), an organization that provides a supportive environment for companies to develop and commercialize cutting-edge advanced therapeutics. The campus is intended to help meet the growing demand for state-of-the-art
