Investing in Science Parks Michael Donnelly Bonnie Dean.
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Transcript of Investing in Science Parks Michael Donnelly Bonnie Dean.
Investing in Science Parks
Michael Donnelly
Bonnie Dean
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Contents
Quintain Estates & Development plc
Quantum
The Investment Opportunity
Bristol and Bath Science Park
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Quintain Estates and Development plc
Facts & Figures
Established: 1992, LSE listed: 1996
Gross Assets: £1.2bn (09/10)
Funds under Management: £1bn (09/10)
Gross Rental Income: £42.4m (09/10)
Gross Profit: £25.9m (09/10)
Executive Directors: 4, People: 181
Business Activities
Quintain Fund Management
- Quantum (Science Park Fund)
- Quercus (Healthcare Fund)
- iQ (Student Accommodation Fund)
- SeQuel (Secondary Property Fund)
-Urban Regeneration
- Wembley City
- Greenwich Peninsula
- Bioregional
- Regional Regeneration Projects
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Quantum
50/50 Joint Venture between Aviva Investors and Quintain
Investments in Cambridge and Edinburgh
Bristol & Bath (SPark) under construction
Dedicated and experienced management team established
Further science park acquisitions under consideration
090604APQuintain Estates& Development plcQuintain Estates& Development plc
The Investment Opportunity
Imperative to develop the ‘knowledge economy’
Initiatives to encourage innovation, education
Corporates changing approach to R&D – outsourcing, collaboration, co-location and consolidation
Under-priced sector where scale and specialist asset management can release latent value
Fragmented market with substantial scale, opportunity for ‘first mover’ advantage
Strong Government support, but uncertainty in the transition from the RDA’s and financial pressure in the HEI sector.
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Bristol and Bath Science Park
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Bristol and Bath Science Park
55 acre site at Emerson’s Green, North Bristol
Planning permission for 820,000 square feet of occupied space First two buildings: SPark One and National Composites Centre under
construction
‘Gateway’ policy
Designed for an open and sustainable environment Site access Creative Common The Forum
£300M investment over 15 - 20 years of development
6,000 high value jobs
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Aerial Photograph: Phase 1
090604APQuintain Estates& Development plcQuintain Estates& Development plc
An approach that works
Public/Private Partnership Getting the best mix between the public and private sectors Meeting of minds between local Government, presence of the Universities (the brains!)
and the entrepreneurial sector.
24 year impasse !!
Common objectives – A hub to enhance the economic strength of Bristol & Bath Open up access to cutting edge technologies A place designed to accelerate growth On-going commitment to building and operating in a low carbon and sustainable
environment Local management integrated into commercial, social and cultural life of the region
The 4th Space in the HEI eco-innovation system
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Low carbon and sustainability challenges
Green field site
Existing natural eco-system
Changing technologies, changing national priorities – renewables
Future proofing the site
090604APQuintain Estates& Development plcQuintain Estates& Development plc
SPark one - Buildings
Exposed concrete slabs to provide the thermal mass to support natural cooling within the office areas.
Reinforced concrete incorporates recycled aggregates.
Significant proportion of steel reinforcement bars sourced from recycled materials.
Windows that open are included to provide natural ventilation. Improvement of u- and g-values in The Forum
Enhanced BMS controls and tenant sub-metering
First energy centre will be powered by a biomass boiler
Photo Voltaic cells will provide additional power to the building.
090604APQuintain Estates& Development plcQuintain Estates& Development plc
SPark one - Infrastructure
23,000 m3 of top-soil has been stripped and retained for re-use in new development.
36,000 m3 of excavated material has been processed for re-use as fill material for creating building platforms, formation levels for roads and paving and fill in foundations and drainage trenches.
Toptrec recycled pathways used throughout the communal areas.
Street lighting can be dimmed (individually or in sections) to match the time of year.
New bus shelter will be constructed from recycled timber and incorporates existing trees into it’s design
090604APQuintain Estates& Development plcQuintain Estates& Development plc
SPark one - Infrastructure
• New bridleway will be constructed from recycled material obtained from the site.
• Approx 2,200m of existing hedgerows have been retained.
• Bat poles and badger tunnels will be installed to allow animals to move around the site following established routes.
• Strategy of distributed energy centres down the site to take advantage of advances in technology.
• Infrastructure works designed to achieve a CEEQUAL Excellent certification.
090604APQuintain Estates& Development plcQuintain Estates& Development plc
Occupier Interest
• Two early occupiers: National Composites Centre and CFMS
• Embody Science Park raison d’etre
• Candidates for TIC status
Michael Donnellye: [email protected]: (0)20 7495 8968
Bonnie Deane:[email protected]: 07979 700310