Bruntwood SciTech has announced a £10 million investment into the life sciences sector, in the form of 50,000 square feet of office space and laboratory facilities in Alderley Park, Cheshire.

The new building comes as part of the plan to create more high specification space for small bioscience businesses in the North of England.

Alderly Park’s Mereside life science campus, which already has a global reputation for drug discovery, will provide additional space for increased demand from early stage life science companies and biotechs.

The building of the new facility will help overcome shortages of laboratory space in parts of the UK and USA, which have increased in recent years, as the development timescales of new facilities continues to be a constricting factor on growth.

Dr Chris Doherty, managing director of Alderley Park, said: "These are the first labs we have developed at Alderley Park and are ideal for smaller life science businesses as they expand and grow. We see a lot of demand at this end of the market for high quality lab facilities and we have a unique offer not only in terms of specification but also our ability to provide access to a community of like-minded businesses.

"We are already home to a number of early stage drug discovery companies, fast growing contract research organisations, and have two venture capital funds based here. We also have Enterprise Zone status, giving qualifying businesses the ability to claim up to 100% business rate relief for a maximum five years."

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