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£350 Newcastle Science Central development receives investment boost

Published: Saturday, 18 June 2016   Category: All Graduate Jobs News

The £350 million Newcastle Science Central Development has been given a huge boost after Legal & General confirmed investment of £65 million in the project.

Science Central is expected to become a major hub for scientific research and technology businesses in the UK.

Legal & General has partnered with Newcastle University and Newcastle City Council and committed £65 million of investment which will be put to use by building 200,000 square feet of office space.

This is the fourth major investment Legal & General Capital has made, supported by UKTI’s Regeneration Investment Organisation (RIO), as part of their £1.5 billion UK Regeneration Co-Investment fund.

The newest investment follows recent announcements that a National Centre for Energy Systems Integration will be built on the site.

It will be the third national centre of excellence secured on Science Central – along with the National Centre for Ageing Science and Innovation, and the National Institute for Smart Data Innovation – meaning the total investment since the beginning of 2016 has reached £90 million.

Step forward for Newcastle

The news is a significant step for Newcastle, with construction of Newcastle University’s £58 million Urban Sciences Building well underway and scheduled to open in the summer of 2017.

The Urban Sciences Building is situated on the Science Central site, with the building and surrounding area becoming a living laboratory, underpinning research to make urban centres more sustainable for future generations.

It will facilitate research in cyber physical systems, smart grids, infrastructure and future of the city. Also a decision theatre will be incorporated, a facility that enables advanced data visualisation so that policy makers and other stakeholders can plan and operate cities sustainably.

Science Central is further evidence that the city is committed to creating jobs that will help future generations, mainly due to the joint investments by Newcastle University and Newcastle City Council.

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