thornton science park

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University of ChesterInvestment Partner Prospectus

Thornton Science ParkOUR BOLD VISION FOR THE FUTURE

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THORNTON SCIENCE PARK

Contents1. Foreword2. Realising Thornton’s Potential3. Net Zero North West4. Vision for Thornton5. The Concept Plan6. The University’s Requirements at Thornton7. The Requirements of the Investment Partner8. The Selection Process and Timelines9. Contacts

Thornton

“A place that connects heritage and academic excellence with industry leading innovation”.

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1. ForewordThe University of Chester (the University) is delighted to bring this Investment Opportunity in Thornton Science Park (TSP or Thornton) to the market. The project has the support of Cheshire West and Chester Council (the Council) and Cheshire and Warrington Local Enterprise Partnership (CWLEP).

The University has owned TSP for 7 years and has seen the site prosper to become a successful science park with an excellent reputation across the UK. It has the potential to make an even greater contribution and realise its full potential in the future.

The University wants to retain a share in the future of the site and maintain a position of significant influence in its future direction as it provides the opportunity for research, innovation and academia to work alongside industry and collectively make a major contribution to the regional economy. TSP will remain a key component of University activity.

The college which would become the University of Chester was founded in 1839 by such pioneers as the 19th-century Prime Ministers William Gladstone and the Earl of Derby, and a future Archbishop of Canterbury. As such it is the fifth oldest higher education establishment in England, with only the universities of Oxford, Cambridge, Durham and London pre-dating it. It has strengths in education, health, sustainability and energy with particular differentiators in vocational/ technical and societal advancements, with growing research funding capabilities and PhD provision.

The University is based in Chester, with several sites across Cheshire, Warrington, Wirral and Shropshire. It has over 14,000 students. Government interest is keen in

Professor Eunice Simmons

several areas of University activity – particularly industrial decarbonisation, carbon capture and the nascent hydrogen generation sectors (“clean energy”).

The Council is also fully committed to seeing TSP realise its full potential as it is recognised as a key employment location which is essential to meeting future economic growth in the wider Ellesmere Port industrial area. The Council see TSP continuing to play a key role in attracting inward investment through the development of high quality industries which contribute to the Council’s economic vision through the creation of skilled job opportunities, increased income levels and improvements to the lives of residents in the area.

The CWLEP is promoting the Cheshire Science Corridor as a major priority. Thornton is in the Cheshire Science Corridor that takes in Warrington (nuclear) and life sciences at Alderley Park and Astra Zeneca. Enterprise Zone status has been designated by the Government in respect of 23 acres of land at Thornton, which will benefit from a mix of incentives. The CWLEP is also fully committed to seeing TSP realise its full potential.

The University is now looking to appoint an Investment Partner to help realise its bold vision for the future of Thornton. Over the next 10-15 years, there is the opportunity to transform TSP into a place that is one of the most important and economically successful Innovation Campuses in the UK.

The University seeks an Investment Partner who shares their ambition to realise the full potential of TSP. Further details of the opportunity are set out in this prospectus.

Vice-ChancellorUniversity of Chester

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2. Realising Thornton’s PotentialThornton Today

TSP is a major research and innovation campus comprising 24 hectares, located in the heart of the North West Region.

TSP is located in a major employment area at Ince off junction 14 of the M56 motorway, less than 30 minutes from Manchester International Airport and Liverpool John Lennon Airport.

The University acquired the site in 2014 from Shell UK and made it the home of its Faculty of Science and Engineering. Since then the site has accommodated the Faculty’s academic function alongside significant space for new business start-ups and the expansion of businesses operating in the energy, environment, engineering, advanced manufacturing, chemicals and automotive sectors, supporting their supply chains and workforce skills development.

Contribution to The Ellesmere Port Industrial Area: Development and Investment Framework (EPIA)The location of the EPIA is illustrated in the figure below and covers approximately 2,000 hectares, bounded to the north by the Manchester Ship Canal and River Mersey, and to the south by the M56 / A5117 / M53 road corridor. It extends west to the Vauxhall manufacturing plant, and to Protos, CF Fertilisers and Encirc in the east.

Aerial view of Thornton Science Park in the Stanlow area

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There are four distinct areas as follows:

1. Western Advanced Manufacturing Zone: including Vauxhall / North Road / Netherpool and Rossmore;

2. Ellesmere Port Industrial Area Central: including Merseyton Road, National Waterways Museum, Oil Sites Road North and New Bridge Road;

3. Stanlow and Thornton: including the Refinery site, Thornton Science Park, an area fundamental to the implementation of HyNet; and

4. Eastern Growth District: including Protos, CF Fertilisers, Encirc and communities of Ince and Elton.

EPIA is one of the largest groupings of energy-intensive industries in the UK. The range of industrial uses, as well as specialist research and development facilities, provides the opportunity to create low carbon technologies, including Carbon Capture Usage and Storage (CCUS) and Hydrogen Energy, and enables implementation of such technologies on an industrial scale.

EPIA is located within 1.2km of Ellesmere Port Town Centre, which is currently undergoing major regeneration, and is in close proximity to the communities of Ince and Elton to the east as well as the established communities around the town in the west. The Ellesmere Port built-up area has a population of more than 60,000 people, with 330,000 people in the Cheshire area and a further 320,000 in neighbouring Wirral.

EPIA plays an important role in the sub-regional and local economy and provides jobs for local people. The range of uses in the area, and its accessibility, provide significant opportunities for EPIA to deliver advanced low carbon and sustainable technologies and processes and to be of regional, national and international significance.

Thornton is the research epicentre of all of this activity within EPIA. The University will continue to play a key role in supporting the Council and the Government’s ‘Levelling Up’ agenda, by delivering investment and job growth opportunities in advanced, sustainable, and green economy industries, which are accessible to and provide benefits for local residents and businesses.

Ellesmere Port Industrial Area: Development & Infrastructure Framework Plan (Stanlow and Thornton shaded in orange)

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Contribution to the Cheshire Science Corridor StrategyCheshire & Warrington Local Enterprise Partnership (CWLEP)

Working in partnership with local government, businesses, educational institutions and other private and community sector organisations, the CWLEP is contributing to Cheshire and Warrington being one of the most successful and fastest growing economies in the country.

Government’s recent economic review identifies that Cheshire and Warrington benefits from a suite of interconnected centres of enterprise that have the potential to contribute to national innovation and science, referring specifically to the Thornton Science Park campus.

The Cheshire Science Corridor

Stretching 40 miles between Manchester and Liverpool, the Cheshire Science Corridor is home to the largest concentration of science and technology assets in the North of England. This cluster of scientific talent is home to world-class innovators who are forging new discoveries and technologies that are revolutionising industry, energy, health and space.

The Cheshire Science Corridor is home to:

• The UK’s largest and best invested bioscience campus at Alderley Park;

• The European centre for nuclear engineering consultancies at Birchwood Park;

• The world’s largest site dedicated to the development of mass spectrometry systems just outside Wilmslow;

• The UK’s fastest industrial supercomputer at Daresbury;

• The UK’s largest chemical engineering cluster in Ellesmere Port;

• The world’s biggest science project at Jodrell Bank.

Investing in Thornton Science Park

Thornton Science Park is a key asset in the Cheshire Science Corridor and a focus for R&D and innovation activity in the sub-region. A successful Thornton Science Park will be a vital element in driving forward the ambition to create the UK’s first Net Zero Industrial Cluster in Ellesmere Port.

The CWLEP has invested £6.8m of Local Growth Fund monies into the Energy Centre at Thornton and actively supports the University bringing TSP forward for investment and development. There is 9.31 ha (23 acres) of development land across three sites with Enterprise Zone (EZ) status at TSP that qualify for Enhanced Capital Allowances and the CWLEP has identified the potential to develop up to c.400,000 sq. ft. of new commercial floorspace at the EZ on TSP in the future. The CWLEP estimates that it could invest c.£7m through the EZ.

The Benefits of EZ Status

The benefits of Enterprise Zone status include:

• Five-year Business Rate Relief for occupiers on designated sites of up to £55,000 per year or first year (ended 31st March 2021);

• Enhanced Capital Allowances on designated sites (available until 31st March 2024);

• Clear and supportive planning policy and streamlined process;

• Access to high quality business support;

• Commitment to enhanced broadband infrastructure;

• Closer working with Department of International Trade (DIT) to attract more foreign investment;

• The ability to retain all new business rates generated within the EZ for 25 years.

Further details of the EZ investment model and the EZ investment approval process are set out in the document ‘Investing in the Cheshire Science Corridor Enterprise Zone: A guide for prospective investors in Thornton Science Park’ which was prepared by the CWLEP in September 2021.

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3. Net Zero North WestThe North West industrial cluster region stretches from Flintshire and Wrexham, through Cheshire, Liverpool City Region and Greater Manchester into Lancashire. It boasts the largest concentration of advanced manufacturing and chemical production in the UK and is home to a concentration of energy intensive users.

Thornton Science Park recently hosted the launch of the ‘Net Zero North West’ manifesto which details how the North West could become the UK’s first net zero region by 2040, and thereby turbocharge the UK economy by £285bn GVA and safeguard or create over 660,000 jobs.

The location and timing of this event is particularly significant, given the University’s specialist and pioneering role in this sector and with the UK Government hosting the United Nations Climate Change Conference in November 2021 (COP 26).

With industry accounting for around a quarter of CO2

emissions in the UK, the manifesto puts forward a series of policy asks to Government that will accelerate industrial decarbonisation and drive clean growth.

HyNet North West hydrogen and CCUS project

The HyNet North West hydrogen and CCUS project is being developed by a world-class consortium of regionally located partners, Progressive Energy, Cadent, CF Fertilisers, Eni UK, Essar, Hanson, INOVYN (part of the INEOS Group) and the University of Chester.

The project received a commitment of £72 million of Government funding earlier this year. HyNet partners will begin to convert natural gas into low carbon hydrogen at Stanlow with the CO2 captured and stored offshore in the Liverpool Bay gas fields. A new pipeline will transport clean hydrogen to power industry, fuel for transport (bus/ train) and heat homes.

The vision around Clean Energy has great depth and breadth of occupier demand and interest from a wide range of investors.

More details on HyNet North West can be found here:

https://hynet.co.uk/

https://hynet.co.uk/

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Net Zero North West Manifesto

The ‘Net Zero North West’ manifesto calls for:

1. Leading hydrogen and carbon capture project, HyNet, to be selected as a ‘track 1’ cluster by Government as part of its vision to transform industrial heartlands into clean growth ‘Super Places’ and establish CCUS in two flagship clusters by the mid- 2020s. This status will put HyNet on a fast-track for additional Government funding and support, unlocking the scheme’s potential to deliver 80% of the UK’s 2030 hydrogen production target and reduce CO₂ emissions by 10 million tonnes every year by 2030 – the equivalent of taking 4 million cars off the road;

2. The need for competitive and investable hydrogen and CCUS business models, and a joined-up hydrogen and ammonia strategy, highlighting the role that ammonia has to play in transporting and storing hydrogen, as well as a low carbon fuel for aviation and shipping;

3. Changes to local energy regulation, citing how the North West’s blueprint for a decentralised low carbon energy system – or Smartgrid – in the area around Ellesmere Port could deliver cheaper and cleaner energy for power, heating and transport; and

4. A review of the UK’s environmental taxation, gas charging and carbon pricing regimes to help ensure the UK’s energy intensive industries remain globally competitive throughout their decarbonisation journey.

The manifesto also provides recommendations for building a resilient circular economy, including more consistent kerbside collection schemes, the roll-out of digital Deposit Return Schemes and supporting unrecyclable plastics as a ‘recycled carbon fuel’ for buses, cars and HGVs.

The manifesto follows the group’s landmark Economic Investment Prospectus which was authored by top analysts at Siemens and launched in the summer at a special event with Business Secretary Kwasi Kwarteng, setting out 18 investment cases for a pipeline of long-term and shovel-ready green projects.

Government makes pledge for Ellesmere Port’s green industrial future

Recent announcements confirm Government’s priority to invest in the Ellesmere Port area. https://www.inyourarea.co.uk/news/government-make-pledge-for-ellesmere-ports-green-industrial-future/

https://www.inyourarea.co.uk/news/government-make-pledge-for-ellesmere-ports-green-industrial-future/



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4. Vision for ThorntonAspiration for Thornton

At Thornton there are no boundaries between academia, applied research and industrial networks. The University’s aspiration is clear:

“to be internationally recognised as a centre for technological innovation that seamlessly melds together the worlds of industry, academia and research and thus transforms the local and national economy”

Over the next 10 – 15 years Thornton will grow to become one of the most important and economically successful innovation campuses in the UK. Its core sectors are aligned to regionally important economic growth areas including:

• Energy;

• Sustainability;

• Environment;

• Advance Manufacturing.

Driving this aspiration, Thornton has become an exemplar institution in demonstrating how industry and academia can thrive together to the benefit of students, industry and the regional and national economy.

Progress Made

Great progress has been made through:

• Attracting an ambitious cohort of exciting, innovation-centric enterprises focussed on business success;

• Being surrounded by an impressive regional industrial business community in the heart of one of Europe’s largest active industrial landscapes, consisting of global organisations who understand Thornton’s role in supporting their growth aspirations;

• National and international connections to Government, business and academia through a close working association with the Council, CWLEP and the Cheshire Science Corridor Enterprise Zone.

More needs to be done to capitalise upon the momentum that has been created and to further enhance the reputation of the University.

Source: University of Chester

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Our Vision

The vision of Thornton is to:

• Strive to become Research and Innovation leaders in the four fields of Energy, Sustainability, Environment and Advanced Manufacturing and to ensure that Thornton’s strategies are aligned to governmental and regional imperatives;

• Attract the most innovative companies by providing world class facilities;

• Support those companies by providing access to exceptional technology, extensive business support and the network of skills that they require;

• Develop its research programmes to align with and be responsive to business needs;

• To develop the local workforce with the correct industry relevant skills to ensure increased growth and productivity in the regional economy.

“The campus will become a destination, and a place renowned not only for its innovative and pioneering collaborative spirit but also for its distinctiveness of place, its architectural identity and legacy; and high quality environment”

Our Objectives

Objectives:

1. A place for academia and industry: a unique destination which promotes synergy and collaboration between academia and industry. Businesses gain a competitive edge with access to some of the leading academics in their field; researchers gain practical experience within their relevant industry of focus;

2. A flexible place that delivers: attracting a range of new businesses, spin offs, SMEs and academic minds by ensuring that the Thornton campus maximises the opportunity for flexible business growth, diversification and collaboration and is a commercially sustainable business location over the long term;

3. A place of quality: set within a high quality physical environment which provides access to the latest academic and industrial facilities and lab spaces. A place that connects heritage with industry leading innovation.

“Koura has a Research and Development centre for its pharmaceutical propellant business here in the UK. We were looking for a place to expand our capability with extra laboratory space, extra capabilities and the opportunity to train and recruit people with the right skill-set. That’s why the University of Chester’s Thornton Science Park was a great location for us to move to.”

Simon GardnerKoura

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5. The Concept PlanThe concept plan provides the following guiding principles for future investment in 4 character areas:

The Central Business and Commercial AreaThe Central Business and Commercial Area is a concentration of high quality business and commercial office spaces located around the central park. Opportunities for the development of new buildings to reinforce the significance of this central cluster of existing buildings are shown in red. This includes the restoration of the historic Ince Building façade (Building 50) with a new building immediately behind it. Building 40 provides the opportunity to be repurposed as a central activity centre and hub for business, academia and visitors to meet and collaborate, a facility which TSP does not have at present.

The Southern Research, Innovation and Hydrogen DemonstratorThis is where the University will focus its activities in Buildings 305 and 95 and also on the land area shaded in yellow which is earmarked for the Low Carbon Hydrogen Project and Hydrogen Test Demonstrator which will be undertaken in collaboration with Progressive Energy and Essar. This effectively reserves a key site for the Hydrogen Test & Innovation Centre, directly opposite the HyNet Low Carbon Hydrogen Project Proposal on the adjacent Essar site which is at the planning stage. This reinforces the significance of the site as a centre for fuel research, including the work done on site by Frank Whittle.

Work around hydrogen CCUS and Ammonia Research will keep Thornton at the cutting edge of research and innovation for the next 20 years. This builds on the heritage of a unique site that has been part of key innovations around hydrocarbons and their many uses since the 1930s and which is now entering a transformational phase of asset use supporting future clean growth and the drive for sustainability across the energy, chemical and manufacturing industry.

The Northern Industrial Incubation, Research and Manufacturing AreaLocated to the south of the railway along the northern boundary, this is an extensive area where the existing mothballed and redundant buildings will be demolished to create plots for the industrial incubation, research and manufacturing activities which are in high demand at Thornton. This includes a site which has been reserved for the British Geological Survey (BGS) which forms part of a Government investment in new UK Geoenergy Observatories by the Natural Environmental Research Council (NERC), through BGS. The proposed development aims to improve understanding of the nature, extent, accessibility and sustainability of some of the UK’s

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potentially substantial and widespread geothermal resources, and response to the Government announcement in the 2014 Autumn Statement that it would create world-class subsurface energy research test centres. The first research site in Glasgow has been completed and is operational.

The Eastern Gateway AreaLocated off Pool Lane, including the site entrance, security building, checkpoint, car park, signage and vacant land. There is an opportunity to reconfigure this area at Thornton.

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1. The Central Business and Commercial Area

2. The Southern Research, Innovation and Hydrogen Project Area

Commercial office building. Ince Building: restoration and facade restora-tion and development opportunity.

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3. The Northern Industrial Incubation, Research and Manufacturing Area

4. The Eastern Gateway Improvement Area

Existing mothballed and redundant buildings will be demolished to create plots for industrial incubation, research and manufacturing.

Opportunity to reconfigure the entrance area as part of the rebranding of Thornton.

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6. The University’s Requirements at ThorntonThe University has managed Thornton since it took over the site from Shell in 2014. One of the key drivers behind the acquisition was the desire to locate the Faculty of Science and Engineering at TSP, on a major research and innovation hub in the North West. TSP has become home to a number of technology companies with active research links with the Faculty in addition to the incubator space and business services for young and developing enterprises.

A Planning Inspectorate ruling in 2020 declined permission for continued educational use of the site in proximity to the adjacent refinery. The University has accordingly relocated its teaching to Exton Park in Chester.

Business occupation, employment and research uses are unaffected, and the University is committed through its staff to maintaining a strong future academic, research and innovation presence on the site, to seeing its significant investments come to fruition and to developing the links with industry and the exciting projects to which the site uniquely lends itself. Relocation of the educational use has created space in recently refurbished vacant Faculty buildings which is available for commercial occupation.

The University has undertaken an estate strategy review to determine its future operational requirements at Thornton. The concept plan in section 5 shows the required footprint for the University which comprises of c.5.4 hectares and includes the possible hydrogen demonstrator and comprises the buildings for University use shown in the Table on page 17.

Buildings where the University could consolidate its activities in the future

The University will focus its future activities in Area 2 at Thornton in the southern research, innovation and hydrogen project area as shown on the Concept Plan.The hydrogen test demonstrator is a key project for the University and some of the non-essential buildings in this area will be demolished to make way for new buildings that are required for this project.

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Building No.

Building Name Role / Function of the Building Floorspace(Sq. Ft.)

95* Delamere Building University / Commercial Research, Innovation and Hydrogen Demonstrator

47,936

305 Sandfield Building University Research 39,706

Total 87,642

*part of building 95 is to be used for commercial use.

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7. The Requirements of the Investment PartnerA Shared Ambition & Commitment to Thornton

The University is looking for an Investment Partner who has a shared ambition and commitment to deliver the vision for TSP through a long-term working arrangement with the University. In addition, we seek an Investment Partner:

• With the knowledge, experience and financial strength to invest in projects of this size and complexity;

• Who is recognised for their creativity and innovation to invest in the University’s sustainable clean energy aspirations; ‘place-making’ objectives and sustainable transport strategy;

• With the ability to invest and drive value through the planning & redevelopment process over time which can be re-invested in other key projects at Thornton;

• Who recognises that this is not just about investment in TSP, it is about making a contribution to the wider economic growth of the Ellesmere Port area to improve the lives of local residents and businesses;

• That will deliver additionality and reputational value to the ‘Thornton story’;

• Who places Innovation and Place at the heart of this investment opportunity as key to promotion of economic growth;

• Who understands that long-term and patient capital and resources are required – this is a partnership for the next ten years.

The Key Requirements of the Partner

There are a number of key requirements for the Investment Partner at Thornton:

1. To facilitate an increase in the take-up and occupancy of vacant floorspace that is now available at Thornton, taking advantage of EZ status and securing benefits from this and other potential funding and support;

2. To be solely responsible for the activity and cost of managing, operating and maintaining the site;

3. To invest in upgrading essential infrastructure and utilities that are required to ensure that the site remains fully operational, as some of the utility agreements approach renewal or expiry. A site infrastructure and utility strategy will need to be agreed and implemented. Discussions with existing suppliers will form part of this exercise for the appointed Investment Partner;

4. To commit to investing in key University projects and early wins in the short term which have been identified as being essential to the academic, R&D, knowledge exchange and industrial collaboration taking place on the site;

5. To prepare an Investment Plan (upon appointment) that will set out a detailed programme of investment activity across the site and optimise the commercial outcome for the University.

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Partnering Arrangements

Thornton Research Properties Limited (TRPL) is a wholly owned private subsidiary of the University and is lessee of the site from the University.

An attractive potential model of collaboration is a share issue to an Investment Partner to constitute TRPL as a Joint Venture (JV) company. The University is open to considering other structures.

If a JV arrangement is agreed, the Investment Partner would be required to make an initial equity investment computed according to the current value of TSP and the shareholding proportion subscribed. The TSP valuation is being finalised and will be made available to the short-listed parties during Stage 2 of the selection process.

If required, the University would seek an additional equity injection from the Investment Partner of up to£20 million in TRPL (or other investment vehicle) within a period of five (5) years from the date of the first investment. This will be subject to further discussion with the appointed Investment Partner.

Future Investment by the University at Thornton

Interested parties should be aware that the University has to date invested significantly in TSP. In light of this and the site’s potential for third-party investment and funding, the University anticipates that any further contribution to investment on its part in TSP will be in kind or intellectual capital.

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8. The Selection Process and TimelinesThe University intends to carry out a two-stage selection process to appoint the Investment Partner.

Stage 1: Expression of Interest

Interested parties are invited to submit an Expression of Interest for the Thornton Science Park to the University.

The Expression of Interest will include firstly a number of mandatory pass/fail questions and secondly a number of scored questions including:

• Recent examples of any investments of a similar scale which demonstrate a long-term commitment, and which are relevant to the University’s objectives at Thornton.

• Details of the project delivery team plus two named individuals to be nominated as Board members should they be appointed as the preferred Investment Partner.

• Information containing any relevant recent experience within the industry, innovation and clean energy / technology sectors, where interested parties have demonstrated a high level of competency and effectiveness in delivering successful project outcomes (i.e., achieving the project’s objective); and where interested parties have shown an ability to exceed expectations.

• Approach to place making, social value and inclusive growth, providing any examples of how interested parties have made a positive impact on mental health and physical well-being in the workplace;

• Examples of where interested parties can demonstrate the right ‘fit’ with the University’s aspirations for Thornton. In particular, characteristics such as being an innovator; being prepared to disrupt the market; being passionate about, and having contributed to the places where they have invested; and having a responsible, proactive and innovative approach to protection of the environment.

Stage 2: Final Tender and Selection of an Investment Partner

Following an evaluation at Stage 1 expressions of interest by the University, short-listed parties will be taken to Stage 2 and will be invited to submit a final tender.

Following the evaluation of the tender submissions by the University a recommendation will be made to the Strategic Executive Team (SET) for the appointment of an Investment Partner for Thornton Science Park.

Timetable

• Friday 15th October 2021: Prospectus to be issued on the University’s web page. The University will ensure that all Interested Parties are notified of the Thornton Science Park Investment Partner Opportunity;

• Friday 12th November 2021: Expression of Interest Submission Deadline and Review: the University’s selection panel will review the Stage 1 submissions and will agree a short-list for the Tender Stage;

• Monday 22nd November 2021: Invitation to Tender Document Issued to the short-listed parties and data room opened. Each of the short-listed parties will be invited to attend an accompanied site visit, followed by a Q&A session at Thornton Science Park;

• W/C 6th December 2021: Presentations by the Short-listed Parties to the University’s selection panel, invited guests and their advisors. Opportunity for Q&A;

• January 2022: Final Tender Submission Deadline. The short-listed parties will have time to review the feedback obtained during the presentations to the University and prepare their final tender submissions;

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Stage Date

Prospectus Friday 15th October 2021

Expression of Interest Submission Deadline and Review

Friday 12th November 2021

Invitation to Tender Document Issued Monday 22nd November 2021

Presentations by the Shortlisted Parties W/C 6th December 2021

Final Tender Submission Deadline January 2022

Selection and Recommendation of Investment Partner

January 2022

Approval by the University to appoint the Invest-ment Partner

January 2022

• January 2022: Selection and Recommendation of Investment Partner: the University selection panel will review the final tender submissions and will make a recommendation to SET for the appointment of the preferred Investment Partner;

• January 2022: Appointment of the Investment Partner.

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9. ContactsIain Jenkinson Executive Director CBRE LimitedT. +44 161 233 5469 E. [email protected]

Ian Griffiths Director CBRE LimitedT. +44 161 233 5474E. [email protected]

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