Manchester has officially opened the first phase of a $2.3 billion (£1.7 billion) innovation district aimed at fostering science and technology companies. The initiative, known as the “Sister” project, is a collaborative effort between the University of Manchester and private sector investors, designed to enhance the city’s reputation as a hub for scientific and technological advancement.
The Sister district, located on the former North Campus of the University of Manchester, will encompass 2 million square feet (approximately 186,000 square meters) of commercial space and create 1,500 new homes. This development is part of a broader strategy to attract private investment in university cities like Manchester, Oxford, and Cambridge, a trend the UK’s new Labour government supports to bolster public services and infrastructure.
The 15-year Sister project is a joint venture that includes Bruntwood SciTech, a development firm backed by property company Bruntwood, Legal & General, and the Greater Manchester Pension Fund. Upon completion, the total investment is expected to reach £1.7 billion.
Sustainable Ventures, a climate tech investment company, will be the first tenant, moving into the Renold Building this November.
“This is a significant moment for Manchester,” remarked Bev Craig, leader of Manchester City Council.
The Sister project is part of the Greater Manchester Investment Zone, which utilizes £160 million in public funding to attract businesses over the next decade. Plans for the district’s first major development zone are set to be announced soon.
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