A new phase of construction has been given the go-ahead at Malvern Hills Science Park (MHSP) after shareholders backed the scheme with almost £4 million of new investment.
MHSP shareholder Worcestershire County Council has invested £3.5 million while Malvern Hills District Council put forward £370,000 for the scheme, which will enable current tenant UTC Aerospace Systems, to expand.
Longbridge Science Park-based Trebor Developments will develop the new 30,000 sq ft high tech office and production facility, which has been designed to UTC’s specific requirements, reflecting the high tech nature of its operations. North Lincolnshire-based Clugston Construction has been selected as main contractor.
Alan White, Chief Executive of MHSP, said: "The now imminent commencement of Phase 4 as a new facility for UTC Aerospace Systems consolidates our ever-growing reputation as one of the UK's leading centres for defence technologies.
“UTC's relocation into the new building will also create opportunities for smaller, high-growth businesses to move onto the park with the potential to create an additional 150 new jobs,” he added.
Bob Tattrie, Managing Partner for Trebor Developments, commented: "This is another major development for Trebor across the West Midlands, bringing together a landlord and tenant under a combined package to deliver a cost effective/turnkey accommodation development. Trebor have undertaken to deliver the project on time, cost and quality and have selected Clugston Construction as our contractor parter to help us meet those objectives".
Sarah Quinney, on behalf of UTC Aerospace Systems, commented: "We look forward to moving into this facility to better serve our customers' needs."
Worcestershire County Council’s Deputy Leader, Simon Geraghty, said: "Historically Malvern has been a hub for invention, innovation and the development of new technology and this continues today with the growth of high tech and cyber security firms on this site.
"The Science Park has been really successful and this further phase of development will allow even more space for existing firms to grow and to accommodate new start-up companies."
Phil Grove, economic development portfolio holder at Malvern Hills District Council, said: "The Science Park is now home to number of businesses and well over 300 high value jobs so is a significant employer in the local area.
"Our investment will help to safeguard the growth of existing and new businesses and bring new jobs to the area in due course."
Work is expected to start on site in December.