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Bruntwood has acquired the 80K SF Birmingham Innovation Campus in a move which opens the way to a further 90K SF development, and takes the landlord and developer deeper into the city's science and innovation sector.
The decision to sell Birmingham City Council interests in the campus operating companies, backed last week by the city council's cabinet, confirms Bruntwood's pivot away from investing in traditional offices and toward the science and innovation sector.
In Manchester the process is already well underway, with Bruntwood controlling a now substantial interest in Manchester's science corridor.
A joint statement by IBL and Bruntwood said that the buy meant a "new era of major expansion at the region's leading digital and technology campus."
A report to the council executive said: "The IBL Group operates the Innovation Birmingham Campus which currently comprises Faraday Wharf, iCentrum and Universities Centre. There is potential for further significant development of the site, with around 90K SF remaining to be developed."
The 42K SF iCentrum building is the most recent addition to the campus, part of a £30M expansion plan. It is meant to foster connections between innovators and corporate partners.
There are currently more than 72,000 digital and creative jobs in the West Midlands and the forecast is for another 29,000 by 2030. The sector is seen as vital to the continued success of the region’s economy and is a key part of Metro Mayor Andy Street’s economic strategy.
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