AstraZeneca sells Alderley Park R&D site in Cheshire, UK

Published: 12-Mar-2014

Manchester Science Parks says the site will remain a life science and biotechnology campus


AstraZeneca has agreed to sell its Alderley Park site in Cheshire, UK, to a public-private partnership as it moves to a new global R&D centre in Cambridge.

The new owner of the Alderley Park site, Manchester Science Parks (MSP), plans to keep the 400-acre site as a life science and biotechnology campus.

The financial terms of the deal have not been disclosed.

The sale is part of AstraZeneca’s plan, announced in March 2013, to establish a new R&D centre and corporate headquarters in Cambridge, in 2016. Pascal Soriot, Chief Executive of AstraZeneca, said the sale of the site to Manchester Science Parks is 'the responsible and sustainable choice for the future of Alderley Park'.

'The new owner is committed to building on AstraZeneca’s life science legacy at the site and ensuring it remains a centre of biotechnology innovation in the North West of England,' he said. 'It will lead to future growth and offer significant opportunities for new jobs to be created.'

The long-term future of the Alderley Park site as a leading centre for life science innovation looks good

AstraZeneca said it would take pre-tax impairment charges of US$275m to non-core R&D expense in the first quarter of 2014 in connection with the changes.

The UK pharmaceutical company expects to complete the sale by end of this month and will remain a key tenant on the site. The handover of the site will be phased over a three-year period, with the full exit of AstraZeneca R&D staff to take place on the completion of the new facility in Cambridge.

Around 700 AstraZeneca staff will remain on the site in non-R&D roles following the transition to Cambridge. Overall, the company will continue to have a significant presence in the North West of England with approximately 3,000 employees across Alderley Park, the Macclesfield manufacturing site and the MedImmune vaccine manufacturing facility in Speke. The company also has scientific collaborations with academic institutions such as Manchester University, which will continue to play an important role in discovery work.

BioCity, the company appointed by AstraZeneca in May 2013 to develop the BioHub for early-stage and growing bioscience companies on the Cheshire site, has welcomed the sale.

Dr Glenn Crocker CEO of BioCity, who supported MSP in its bid for the site, said: 'This is encouraging news for all concerned and we welcome the fact that the long-term future of the Alderley Park site as a leading centre for life science innovation looks good.'

BioCity Nottingham is the UK’s leading provider of life sciences business incubation, having established BioCity Nottingham in 2003, BioCity Scotland in 2012, the BioHub at Alderley Park in 2013 and MediCity, in collaboration with Boots UK, also in 2013.

Since its launch, the BioHub has attracted 24 companies to its high-end laboratory and office facilities and has subsequently helped to create or secure nearly 200 scientific posts. The wide-ranging commercial activity undertaken by the growing businesses within the BioHub includes innovative drug discovery, research and development, and technical support services.

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