Innovative tech businesses are being lured to Canada Water thanks to the construction of 30,000 sq ft of lab space by developer British Land.
British Land and investment fund AustralianSuper have also appointed architect Stanton Williams to draw up plans for a 300,000 sq ft life sciences building, also on the Canada Water Masterplan.
It is hoped the schemes will “support innovation and life sciences businesses” by tackling a lab space shortage that experts have said could hinder the UK’s burgeoning life sciences sector.
Emma Cariaga, Joint Head of Canada Water at British Land, said: “Canada Water is in prime position to cater to the growing number of life science and innovation businesses requiring new, high-specification lab space, supporting the aims of the government’s newly published Science and Technology Framework which pinpoints these burgeoning sectors as a crucial driver of economic growth.”
Part of an area named ‘Paper Yard’, the lab space is ‘modular’, meaning the units are delivered part-ready-made, requiring minimal construction on-site.
They will be ready for occupation in May and British Land said it is “seeing positive early interest from potential life science occupiers”.
Architect Stanton Williams has previously won the architectural Stirling Prize for the Sainsbury Laboratory in Cambridge.
Although British Land has permission to keep the labs for at least ten years, modular buildings are designed to be temporary.
British Land told the News its long-term ambition was to move its occupiers from these buildings and into the permanent life sciences building.
Once completed, the larger life sciences building will house wet labs where drugs, chemicals and other biological materials can be handled.
British Land’s life science scheme is part of its huge £5.6 billion masterplan on its 46-acre site incorporating Surrey Quays shopping centre, the SE16 Printworks, Surrey Quays Leisure Park, the Dock Manager’s Office and Dock Offices.
The masterplan is being approved in stages and will deliver 3,000 new homes and 2.5 million sq ft of offices.