Land deal completes multimillion pound investment to make London Cancer Hub a reality
– Total of £30 million invested in land for global cancer innovation centre
– Now seeking a development partner for a £350 million life science campus
– World-leading hub will accelerate availability of more new treatments for the benefit of patients
Plans to develop a world-leading cancer research hub in south London have taken a major step forward with the completion of the final stage in a £30 million investment in land.
Download architects visualisations of The London Cancer Hub: https://we.tl/t-w4tNwenh7n (Picture credit: Haptic Architects & Nordic)
The London Borough of Sutton has purchased a further 0.38 hectares of NHS land on the site of The London Cancer Hub – a partnership with The Institute of Cancer Research, London, and one of the UK’s most significant regeneration projects.
Finalising the land deal has opened the way for the London Borough of Sutton to seek a development partner for a £350 million life science campus, bringing forward new buildings on the site.
The London Borough of Sutton invested £2.199 million in the final portion of land on the site, taking the total to £30.299 million.
Development on the site in Sutton, south London, will now accelerate as the partners aim to deliver on their goal of creating the world’s leading hub for cancer research, education and enterprise.
The London Cancer Hub aims to be a global centre for cancer innovation, bringing together scientists, doctors, a variety of life science companies, patients and the local community.
It is led by the London Borough of Sutton and The Institute of Cancer Research (ICR), with the support of The Royal Marsden NHS Foundation Trust and The Mayor of London.
The London Borough of Sutton now owns land with the potential to accommodate up to 100,000 square metres of new space on the life science campus.
The aim is for private enterprises to share the site with the ICR and The Royal Marsden – intensifying collaboration with these internationally renowned organisations.
A tender process will open in January to secure a development partner to take the lead on masterplanning, raising of development finance, procurement of third-party contractors and marketing to occupiers.
The London Cancer Hub aims to create a vibrant community of scientists, doctors and innovative companies, supported by state-of-the-art research facilities, and community amenities including a secondary school. The initiative is set to create 13,000 jobs and is projected to ultimately contribute £1.2 billion to the UK economy each year.
The project will accelerate progress in making the discoveries that will defeat cancer – enabling the ICR, and companies on the campus, to discover more cancer drugs and, alongside its hospital partner The Royal Marsden, increase the chances that they will be successfully developed for patients. The ICR already discovers more new cancer drugs than any other academic centre in the world.
The London Cancer Hub also demonstrates the UK’s and London’s ambitions to remain a world leader in life sciences after the country leaves the EU – and will play a key role in meeting the ambitions set out in the Government’s life sciences industrial strategy White Paper.
Councillor Ruth Dombey, Leader of Sutton Council, said:
"I’m delighted Sutton Council has now completed the land deals necessary to bring forward a 100,000 square metre life science campus. This investment will support the continuing development of The London Cancer Hub and further collaboration between academic research, treatment and enterprise, creating in turn thousands of new jobs.
“We are now seeking a highly skilled and experienced development partner to take forward and deliver the vision of The London Cancer Hub. To work side by side with us in a partnering arrangement, to engage collaboratively with our key stakeholders and to ultimately realise the ambition we hold for the site.
“The Council’s investment in land on The London Cancer Hub campus is another major step in creating a global centre for science innovation, right here in Sutton."
Professor Paul Workman, Chief Executive of The Institute of Cancer Research, London, said:
“There has been an explosion in our knowledge of cancer over the last decade, and we’re seeing the fruits of that understanding in a succession of exciting new treatments for the disease. But there is still much more to do to translate research advances into innovative cancer treatments – and part of the answer is to stimulate intensive collaboration between academia and industry.
“I’m incredibly excited by the potential of The London Cancer Hub to spark creativity, innovation and collaboration, and to take many more exciting new cancer treatments through to patients. This is one of the most ambitious life science projects in the world – and we’re proud to be working with the London Borough of Sutton in making it a reality. It’s great to have reached such a significant milestone, and I’m now looking forward to bringing in a commercial development partner that shares our ambition to create a truly world-leading research and enterprise hub.”
Deputy Mayor for Business, Rajesh Agrawal, said:
“The ongoing development of the vitally important London Cancer Hub is great news for global life sciences and cancer research, and further proof that London is the city of choice for collaboration between academia and the life sciences industry. Life sciences in Sutton are set to deliver 13,000 jobs and more than £1 billion a year – demonstrating yet again that London is open to investment and innovation.”
Find out more about The London Cancer Hub at londoncancerhub.org