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Lovells acted for United Kingdom Atomic Energy Authority (UKAEA) and Science and Technology Facilities Council (STFC) on their long term partnership arrangement with Goodman International to develop the Harwell Science and Innovation Campus.
Real estate partner Dion Panambalana led the Lovells team, which comprised corporate partner Nicholas Holman, real estate senior associate Oliver Chamberlain and corporate associate Nora Bullock, while real estate partner Jackie Newstead led a parallel team representing STFC.
The Harwell Science and Innovation Campus project involves potentially all of the government land at Harwell, Oxfordshire, comprising 741 acres. The partnership aspiration is to draw down development over the course of 20 years in order to fulfil the vision for HSIC which is to maximise investment in science innovation and to provide greater incentives for businesses to collaborate with the science base to meet the challenges of economic growth and globalisation. The total gross development value of the developments that could be undertaken by the partnership is in the region of £500 million.
Dion Panambalana said:
"We were delighted to have been instructed on what is without doubt a hugely exciting and strategically significant partnership for UK Science. The relationship management issues involved in a public private partnership, that will hopefully stretch for at least 20 years, were hugely complex but we were fortunate to have both clients and other advisers fully committed enthusiastically to pushing the project forward and a willing and helpful partner in Goodman and their team.
"The fact that Big Science (particle smashers and quantum physics) is the sort of thing that now excites the public imagination added some extra intellectual spice to the whole exercise."