The British Library has greenlit the construction of a new research hub on its property in North London, increasing the business potential for the biotech ecosystem in the southeast of England.
The new site, costing up to €900M (£800M) [$1.02 Billion/USD], will expand premises held by the British Library, which is next to King’s Cross and the Francis Crick Institute, a well-known bioscience research center. This will add sorely needed space for biotech companies that want to operate in North London.
Scheduled to be completed by 2025, the site will be shared by the British Library and various research companies and organizations, which will have up to 74,000 square meters of space for offices and labs. The construction costs will be covered by funding from the British Library and development companies Mitsui Fudosan and Stanhope.
Read the Complete Announcement
See Also: Official British Library Announcement