Outline planning consent has been granted for the second phase of the Thames Valley Science Park.
Wokingham Borough Council approved the plans for the development of the remaining 600,000 square foot of the total 800,000 square foot site last week (26 April).
The University of Reading, who owns the Science Park, put forward conceptual plans for approximately 15 further buildings to be developed as and when required over a 20 year period.
In addition, design work for the third building on the phase one site is now underway. A formal planning application is expected to be submitted later this year with the building completed by mid-2019.
The ‘Gateway’ building is due to open, fully occupied, later this year. It will provide 70,000 square foot of specialist space for approximately 20 innovative technology based companies that are researching and delivering cutting-edge new products.
The second building, an innovative cancer treatment centre being built by Proton Partners International Ltd, is expected to open in the first half of 2018. The company is investing £30 million to build its own purpose-built centre which will help to meet growing demand for proton beam therapy, a specialised type of cancer treatment that is not yet available in the UK.
David Gilham, Director of Thames Valley Science Park, said: “With phase one of the Thames Valley Science Park already taking shape, this outline consent for phase two enables us to continue with our ambitious long-term plans to further develop our thriving community of knowledge-based companies.
“These companies are already generating mutually beneficial links with the University for knowledge exchange and through opportunities for student placements and graduate jobs. As we welcome more companies to the Science Park in the years to come, it is our hope that new collaborations and partnerships will develop.”
The Thames Valley Science Park will eventually deliver approximately 800,000 square foot of flexible laboratory and office space in a campus style setting designed to encourage collaboration. Once completed, the Science Park will have the potential to provide up to 5,000 new jobs.
The initial investment in the ‘Gateway’ building is £35 million, which includes investment of £30 million from the University of Reading and £5 million from the European Union’s European Regional Development Fund.
For more information on the Thames Valley Science Park, visit www.tvsp.co.uk
Haslams and Savills are agents for Thames Valley Science Park.
BSc (Hons) MRICS