The bioscience phase of The Island Quarter is one of just a handful of projects from the Midlands being showcased as part of the government’s Global Investment Summit being held today (Monday, 27 November) at Hampton Court Palace.

The 51,000m2 Discovery Park on the 36-acre Nottingham site is set to feature as one of the Midlands Engine’s flagship projects at the event, which will be attended by the Prime Minister Rishi Sunak and more than 200 global CEOs.

The landmark event will see the launch of the Universities as Drivers of Trade and Investment pilot, which has been developed by Midlands Innovation and Midlands Engine Universities (MEU). As part of the launch, the Discovery Park at The Island Quarter will be highlighted as a key hub for innovation and growth, with the aim of attracting foreign direct investment to the region.

The Conygar Investment Company received detailed planning consent for the first phase of the Discovery Park in June 2023, with the second phase currently in design stage.

When complete, the first phase will provide high quality, flexible research and laboratory space, further enhancing the city’s reputation as the bioscience capital of the UK.

With more than 200 bioscience businesses in the city already, the proposed facility will act as an incubator for new and growing companies, in what is a strategically important sector within Nottingham.

Christopher Ware, property director at The Conygar Investment Company PLC, said: “The Global Investment Summit is a brilliant place to showcase the opportunities at The Island Quarter, particularly those in the field of biosciences. Nottingham has long been a leading light in terms of science and discovery, be that the invention of the MRI scanner or the creation of ibuprofen, and the Discovery Park that forms part of the wider development at The Island Quarter is a logical next step in that journey of innovation.”

Roger Mendonca, chief executive of Midlands Engine, said: “Investment in The Island Quarter’s Discovery Park clearly demonstrates the leading role the biosciences sector plays in the Midlands, as well as the power of collaboration between local and regional partners.”

Having been given outline planning permission in 2019, The Island Quarter has regenerated a significant area of brownfield land in Nottingham city centre, and is now home to bars and restaurants, as well as a student living scheme set to open in 2024.

Christopher said: “With the first phase having already been granted planning consent and more to come as part of the regeneration of the wider area, The Island Quarter provides unrivalled opportunities – not just with the bioscience space, but also with places for workers to live and spend quality time.

“This latest step is just a part of the momentum building on site, and we’re excited to continue bringing forward a scheme that will be transformational not just for Nottingham, but for the region as a whole.”