Imperial College Buys Industrial Park in North Acton
Says it will form part of a technology and innovation hub
An aerial view of the Victoria Industrial Park. Picture: SEGRO
October 15, 2024
Imperial College London has bought a 9.6 acre industrial park in North Acton with the stated intention of making it part of a major technology innovation hub.
It has paid £150 million to SEGRO for the Victoria Industrial Estate as part of its plans to develop the WestTech Corridor which will include a significant number of high technology innovation businesses.
The announcement was made at the UK Government’s International Investment Summit this Monday (14 October).
The North Acton site could become part of a network of science and innovation locations across West London including South Kensington-Albertopolis, Paddington Life Sciences Cluster and the White City Innovation District.
The site is near the future Old Oak Common Station hub and was purchased to provide flexible and affordable follow-on space to enable innovators to stay in West London as their operations grow. It is anticipated that it will enable prototyping, pilot manufacturing and advanced manufacturing in areas such as CleanTech, BioTech and MedTech.
Old Oak and Park Royal Development Corporation (OPDC) and Ealing Council have identified the site as suitable for mixed use development so it is possible that it could include accommodation for people working at the location.
Imperial says that the acquisition and plans have been supported by the Government’s proposed reforms to the National Planning Policy Framework.
It is already a significant landholder in the area 7.5 acres including Woodward Halls, Kemp Porter Halls, Clayworks Apartments and One Portal Way which secured planning permission for a major redevelopment in March 2024 from OPDC for c. 2m sq. ft. of mixed-use space. Imperial plans a significant expansion of student and staff accommodation in the area.
Imperial President Hugh Brady said, “Imperial College London is investing in its ambitious vision for a new globally competitive deep tech innovation ecosystem in West London. The Imperial WestTech Corridor will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level supported by the Government's emerging Industrial Strategy.”
David Lunts, Chief Executive of OPCD, said, “OPDC welcomes this latest and large investment by Imperial. Together with their existing local assets, this is another vote of confidence in the regeneration plans for Old Oak and Park Royal and bodes well for a new generation of high-quality jobs and opportunities in our area.”
Councillor Peter Mason, the leader of Ealing Council, said, “The WestTech Corridor will be a major game changer for Ealing in securing good growth in a high tech, emerging economy. It builds on the growing role life plays sciences in west London, and this investment marks real confidence in the future of Ealing's new town at Old Oak & Park Royal.
“Park Royal is at the confluence of all the transport infrastructure that makes our borough such an eye-catching place to invest. It is already an industrial powerhouse and we want it to do even more in science, technology, and innovation.
“We want to deliver great opportunities for skills and employment for our residents, so securing investment with employment of the future is really important to us - and this solid partnership with Imperial will do just that.”
Business and Trade Secretary Jonathan Reynolds added, “The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.
“We’re determined to deliver economic growth in every part of the UK and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future.”
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