Mayor of London, Sadiq Khan, officially opened ‘The Cube’ this month; a high-tech scientific research & development building in Dagenham. This post-incubator science facility at londoneast-uk business and technical park will provide small and growing science-related companies with access to specialist laboratories. The Cube will ultimately accommodate up to 15 science-related businesses employing more than 90 people.
Sadiq Khan, Mayor of London said: “I am delighted to see that this site has been regenerated and brought into use as another feather in the cap of London’s great life sciences industry. London is open as a global hub for scientific discovery and the development of cutting-edge new technologies.
“It’s another great example of how London is open for business and we can work together to make the city even better in future for citizens, with new jobs, and businesses, with new premises that meet their exact needs. Creating this new home for cutting edge R&D in East London is a remarkable regeneration story, as the specialist laboratory, manufacturing and office buildings at this site would cost tens of millions of pounds to create from scratch. In fact, the operators estimate that The Cube alone would cost around £10 million to construct today.”
John Lewis, Managing Director of londoneast-uk, said: “The GLA have taken an intelligent approach with the Growing Places Fund by making smaller pockets of funding available for projects like ours that have a really positive impact on protecting facilities that would otherwise have been demolished, and to generate new jobs. A relatively small loan from The Mayor’s GPF fund has unlocked private investment and funding support from the local council worth over £3m for this project – and the £500,000 loan will be repaid for re-investment on other schemes in the future. The Mayor’s GPF initiative is a really intelligent approach to help businesses growth and attract international investment. Our project is a further example of how London is open for business and the great opportunities as London continues to grow and expand east.”
Sarah Haywood, CEO at MedCity, said: “World leading scientific innovation is a major driver of the UK economy and the Golden Triangle is at the heart of that. To keep building on this we must have space for innovation to thrive and the opening of these high quality “grow-on” labs is a vital addition to the mix of life sciences space across the South East.
“The Cube, alongside development at Imperial White City, the Francis Crick Institute and major expansions in Cambridge say to the world that we are open for business; we are open for science.”
To read the full press release please go to: http://www.londoneast-uk.com/mayor-of-london-sadiq-khan-opens-cutting-edge-scientific-research-development-facility-at-londoneast-uk/