Skip Ribbon Commands
Skip to main content

News Release

Manchester

MSP completes Alderley Park acquisition

JLL advises on sale and flexible leaseback of 400 acre strategic site


MANCHESTER, 31st March 2014 Manchester Science Parks (msp) has completed its acquisition of AstraZeneca’s 400 acre Alderley Park campus today.

Property consultant JLL advised AstraZeneca on the complex sale which included negotiating a number of flexible leaseback agreements that will see the pharmaceutical giant consolidate and exit the site in phases from later this year. AstraZeneca will retain700 staff onsite into the medium term.

The disposal process progressed extremely quickly reflecting not just an improving market but also the rarity of such an opportunity. The due diligence period and legal exchange took just six weeks.

Adam White, Associate Director of Planning and Development at JLL in Manchester, said: “It was essential to AstraZeneca that the site’s life sciences capability and legacy would be preserved and enhanced. In this way, the sale process was very different from that of a typical freehold sale of development land.

“msp’s bid provided the most ambitious vision for Alderley Park as it will leverage the existing world class facilities in order to create significant new employment opportunities and capture inward investment.

“Safeguarding the future of Alderley Park as a global centre of excellence for life sciences is essential for the future of the North West’s knowledge economy and it has been particularly rewarding to advise on such a strategically important deal.”


msp is a partnership between property developer Bruntwood, Manchester and Salford City Councils and Manchester’s two universities. Cheshire East Council has recently acquired separate stakes in both Alderley Park and msp.