Bruntwood SciTech Secures £100m Boost from Leading Banks
Deal News | Apr 02, 2025 | Business Cloud
Bruntwood SciTech, a prominent developer of city-wide innovation ecosystems in the UK, has secured an additional £100 million funding package from five leading banks: Barclays, HSBC UK, Lloyds, NatWest, and Santander UK. This new arrangement brings the total available financial facilities to £580 million, comprising a £530 million investment facility with a blend of term loans and a revolving credit facility, alongside a £50 million development facility. The financial package aligns with Bruntwood SciTech's environmental, social, and governance (ESG) commitments, including ambitions to improve energy performance of buildings, reduce carbon intensity, and increase renewable energy usage. The funding underpins Bruntwood SciTech's ambitious growth strategy to create a £5 billion UK platform of specialist workspaces by 2033, focusing on the science, tech, and innovation sectors. Future development plans include completing projects in key UK cities, such as Manchester's Oxford Road Corridor and the redevelopment of the Pall Mall building in Manchester. Additionally, the company, in partnership with The University of Manchester, aims to build a £1.7 billion innovation district in Manchester. With an eye on sustainability, Bruntwood SciTech is pushing towards net zero carbon developments, supported by renewable energy investments. The continued backing from financial partners reflects confidence in Bruntwood SciTech's capability to drive regional innovation and sustainable urban development.
Sectors
- Real Estate
- Financial Services
- PropTech
Geography
- United Kingdom – Bruntwood SciTech’s operations and expansion plans are focused on various key cities within the UK, including Manchester, Birmingham, Leeds, Liverpool, London, and Cambridge.
- Scotland – The mention of investment in a wind farm located in Ayrshire, Scotland, highlights part of Bruntwood SciTech’s renewable energy strategy.
Industry
- Real Estate – Bruntwood SciTech is heavily involved in the real estate sector, developing city-wide innovation ecosystems and specialist workspaces focusing on supporting science, tech, and innovation sectors.
- Financial Services – The involvement of major banks like Barclays, HSBC UK, Lloyds, NatWest, and Santander UK in providing the funding package falls under the financial services industry.
- PropTech – Bruntwood SciTech represents a blend of property and technology sectors, focusing on creating advanced, sustainable real estate solutions for tech and innovation companies.
Financials
- 100,000,000 – Additional funding secured by Bruntwood SciTech from leading banks.
- 580,000,000 – Total financial facilities available to Bruntwood SciTech with the new funding.
- 5,000,000,000 – Long-term target for Bruntwood SciTech's UK platform of specialist workspaces by 2033.
- 1,700,000,000 – Planned investment for a new innovation district in Manchester with the University of Manchester.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bruntwood SciTech | Target Company | Company | A major developer of innovation ecosystems in the UK, focusing on science, tech, and innovation sectors. |
| Barclays | Financial Partner | Company | One of the five leading banks involved in providing the £100m funding package. |
| HSBC UK | Financial Partner | Company | A financial institution providing part of the £100m funding package. |
| Lloyds | Financial Partner | Company | Part of the banking group providing the funding. |
| NatWest | Financial Partner | Company | One of the banks funding Bruntwood SciTech’s expansion. |
| Santander UK | Financial Partner | Company | Participating bank in the £100m funding. |
| Greater Manchester Pension Fund | Joint Venture Partner | Company | A partner in the joint venture with Bruntwood and L&G focused on UK innovation spaces. |
| Kevin Crotty | CFO | Person | Chief Financial Officer of Bruntwood SciTech, highlighting confidence in their growth strategy. |
| The University of Manchester | Joint Venture Partner | Company | Partner with Bruntwood SciTech in the development of a new innovation district. |