BioQuarter opens bidding for private sector partner for £1bn transformation project

BioQuarter, a partnership between Scottish Enterprise, City of Edinburgh Council, University of Edinburgh and NHS Lothian, is expected to be worth around £140m a year to the Scottish economy in the next decade, employing almost 13,000 people and supporting more than 200 health innovation companies to grow. 

Adrian Gillespie, CEO of Scottish Enterprise, said: “Placemaking and partnership are crucial to ensuring an economy thrives. Edinburgh BioQuarter is one of the most significant long-term programmes Scottish Enterprise has undertaken and the work we have done – and continue to do – with our partners to secure the success of the BioQuarter means we are now in a place to take the park to the next phase.

“Over the last two decades, Edinburgh BioQuarter has played a pivotal role in cultivating world-leading medical research and life sciences innovation that is improving lives around the world.

“Now is the time for it to take a further important step – to become a vibrant community, creating jobs and homes for thousands of people on the doorstep of one of the world’s most important cultural centres.

“Alongside the City of Edinburgh Council, the University of Edinburgh and NHS Lothian, we’ve already invested over £500m in the existing site, with a further £300m investment planned in the next five years through pipeline projects, including the new £68m University of Edinburgh Usher Institute.

“Together we are developing a masterplan and placemaking strategy which will form the basis of one of the most exciting investment prospects anywhere, and will bring real economic and social benefits for Edinburgh, as well as continuing to grow a world-leading medical research and innovation base right here in Scotland.”

Over the lifetime of the development, there is the potential to grow to a health innovation community of 20,000 with 2,500 residential units on site. It will create an entirely new neighbourhood for one of Europe’s most vibrant capital cities, supporting growth and regeneration for local communities. BioQuarter is expected to receive £550million of discounted capital investment, supporting 4,310 jobs in construction and contributing £270million gross, cumulative, discounted construction impact to Scottish GVA.

EBQ3 Ltd has been formed between the City of Edinburgh Council, regional development agency Scottish Enterprise and the world top 20 ranked University of Edinburgh to lead the procurement of a private partner for the proposed strategic joint venture partnership. The public sector led programme also includes major stakeholders NHS Lothian, a key partner in the innovation ecosystem, which has its two acute hospitals based on site.

BioQuarter has helped make Edinburgh the number one city in the UK outside of London for foreign direct investment. The 167-acre site is already home to award-winning health innovation businesses based at NINE, its Innovation Centre, the globally renowned Edinburgh Medical School, many of the University of Edinburgh’s world-leading medical research institutes and the 900-bed Royal Infirmary of Edinburgh. It also includes the new home of the Usher Institute for data-driven health and social care innovation, set to open in 2023. The land available for development extends to approximately 64 acres.

Scottish Government Minister for Business, Trade, Tourism and Enterprise​ Ivan McKee MSP​ said: “This is a once in a lifetime opportunity and one of the most exciting investment and collaborative opportunities with far-reaching benefits for investors, local communities and global health innovators alike. It shows that Scotland is very much open for business.

“With the commitment of its public sector partners, BioQuarter has had over £600m public capital investment, with even further investment planned by them over the next five years.​ It has played a key role in Scotland’s successes in the life sciences sector, which has a turnover of £6.5bn and employs over 41,000 people. A private sector partner will help deliver a globally significant health innovation community of researchers, academics and clinicians and will continue to foster entrepreneurship, supporting as many as 200 new companies.”