UBS Asset Management and Reef Group have got the planning thumbs up to create one of Europe’s largest life science campuses in Stevenage, Hertfordshire.

The 1.4m sq ft new Life Sciences hub will be delivered alongside GSK’s existing Global R&D facility and involve an investment of £900m.

Construction is expected to start in late-2023 with completion for phase one targeted for Q4 2025.

The 15-building biotech campus, which will be named ‘Elevate Quarter’, will be set around a central green with an interconnecting network of paths and open spaces.

The buildings for the new campus will comprise a variety of different uses, including R&D labs, offices and GMP manufacturing facilities..

Amenity spaces will include restaurants, cafes, and leisure facilities. There will be three Green Transport Hubs which will provide multi-storey car parking, bike parking and potential scooter/e-bike hire spaces.

The approval builds on UBS Asset Management and Reef’s existing project in Stevenage, the redevelopment of ‘The Forum’ shopping centre, which will provide 400,000 sq ft of new GMP advanced manufacturing space in Stevenage town centre and received planning committee approval in February 2023.

Olivia Drew, portfolio manager of real estate at UBS Asset Management, said: “The delivery of the new life science campus will leverage years of unparalleled experience across both UBS and Reef.

“The buildings have been carefully designed to be at the cutting edge of sustainability and will facilitate world-leading R&D and advanced manufacturing. The new campus will support thousands of new jobs and boost the UK’s position as a global life sciences leader.”