The London Cancer Hub - A unique life sciences investment opportunity
The London Borough of Sutton is offering a unique opportunity to acquire 4.8 hectares of land on a long lease with potential for 1m sq ft of development, next to one of the world’s most influential cancer research, treatment, clinical trials and innovation ecosystems.
The wider campus is home to The Institute of Cancer Research (ICR), which is ranked in the top two institutions in the UK for biomedical research and discovers more new cancer drugs than any other academic organisation, and the internationally renowned Royal Marsden. As well as Epsom and St Helier NHS Trust that plans to build a new special emergency care hospital on site and the Harris Academy Sutton school which boasts a science specialism.
Sutton is seeking a development partner, with a track record in life sciences and a strong understanding of placemaking, to build on the existing ecosystem to create a global hub to defeat cancer. Establishing a world-leading life science campus with an outstanding environment, and a place of wellbeing where the community are as welcome as the scientist.
The ICR and Royal Marsden collaborate with companies across the full spectrum of cancer research, and together run one of the world’s largest and most successful centres for clinical trials. Sutton has demonstrated demand for lab space on campus by opening the Innovation Gateway, an incubator space for companies working in life sciences related to cancer. Tenants are a mixture of start-ups, spin-outs and growing companies taking innovative approaches to diagnosis, treatment and cure of cancer, attracted by the proximity to the ICR and Royal Marsden. The Innovation Gateway is full, with a pipeline of interested companies and the Council is currently exploring converting additional space and shared facilities into further lab space.
The London Cancer Hub has the support of the Mayor of London and has been endorsed by the UK Government. The Department for Business and Trade has selected the London Cancer Hub as a nationally important investment opportunity; and the Government has demonstrated its support through the award of £14m Levelling Up Fund grant to double the number of trains to the site. It is anticipated that once completed the site will generate an additional £1.2bn GVA per year for the UK economy.
The sales process will be formally launched for expressions of interest in March 2023.
Councillor Ruth Dombey, Leader of Sutton Council, said:
“The London Cancer Hub is already Europe’s leading cancer research and treatment district and home to the globally recognised Institute of Cancer Research and the Royal Marsden Trust. Our ambition is to now create the world’s leading centre for cancer research, treatment, education and enterprise. This will bring multiple benefits to Sutton, London and the UK, creating 13,000 high quality jobs, education opportunities and new space for science start-ups. It is a chance to make real progress in treatment and research to defeat cancer. The London Cancer Hub is recognised as a key development site for growth and we are committed to making it a success.”
Dominic Johnson, UK Minister for Investment, said:
“The London Cancer Hub has delivered extraordinary achievements in recent years, saving millions of lives across the world. Building on its outstanding research offer and clinical excellence, the development opportunity at the London Cancer Hub is a once-in-a-generation chance to invest in an established and highly specialised oncology campus, which is poised to level up cancer inequalities, tackle the health agenda and save lives across the UK and around the world. This will help advance the UK’s position as a science superpower and innovation nation, and a leader in the Life Sciences sector.
This unique partnership and co-location of cancer research, treatment, innovation and education will supercharge collaboration across disciplines and sectors to create a ‘bench to bedside and back again’ ecosystem, while educating the next generation of leading oncologists. Government has further demonstrated its support for this venture by awarding the London Borough of Sutton more than £14m from the Levelling Up Fund, to invest in transport improvements that will directly benefit the London Cancer Hub. Invest in this exciting opportunity and become part of the future excellence on this campus.”
Rajesh Agrawal, Deputy Mayor of London for Business said:
“London is the best place in the world to live, work and set up a company; and life sciences are a key part of London’s DNA. This sector is fundamental to creating good jobs and to stimulating the growth of our economy while delivering innovations that save and improve people’s lives, not only here but all around the world. However, we know there is a shortage of space for life sciences R&D in the capital. We need more lab and business space that is flexible and affordable. The London Cancer Hub will help to meet this demand and generate an invaluable addition to our city’s unique innovation ecosystem.”
For more information see the PDF Opportunity Brochure or contact Cushman & Wakefield:
Michael Aston +44(0) 7736 125 220 michael.aston@cushwake.com
Harry Blanshard +44(0) 7385 950 543 harry.blanshard@cushwake.com
Rory MacGregor +44(0) 7710 302 455 rory.macgregor@cushwake.com
