The University of Bath and South Gloucestershire Council have teamed up to successfully purchase the Bristol & Bath Science Park in a joint £18m bid.
The new owners will use their complementary strengths, expertise and networks to fully realise the park’s potential as a centre of excellence for research and development across the region.
As a regional asset, the Science Park will provide an innovative space for businesses, helping to further strengthen the South West’s position as a hub for sustainable economic growth.
The Science Park is in a prime location and provides an ideal base for national businesses. Plans for the 36 acre site will complement existing businesses based at the park as well as exploiting regional science and engineering strengths. The Science Park will also be home to the Institute for Advanced Automotive Propulsion Systems (IAAPS).
The University of Bath was awarded £38.9m to develop this £60m facility which will be a world leading centre of excellence for research into future advanced propulsion systems.
The Institute will exploit the engineering expertise of the University of Bath for the benefit of the UK’s automotive industry. IAAPS is projected to stimulate over £67m in additional automotive research investment by 2025, creating a further turnover of £800m for the UK automotive sector and supporting nearly 1,900 new highly productive jobs.
The University of Bath will also work closely with the University of Bristol to exploit the synergies created by the co-location of the NCC and IAAPS on the Science Park.
Vice-President (Implementation) at the University of Bath, Professor Steve Egan, said: “Purchasing the Science Park is an important step in the realisation of our University Strategy. It will enable us to increase our research activity to address global problems. It will contribute to business and technology development across our region as well as providing additional capacity and facilities to complement those on our Claverton campus, in London and in Bath city centre.”