DLA Piper has advised Sciontec Developments Limited (Sciontec) on its GBP12 million deal with UK property provider Bruntwood SciTech, to encourage growth within Liverpool’s science and technology sector.

Bruntwood SciTech – a 50/50 joint venture between Bruntwood and Legal & General – has acquired a 25 percent share in Sciontec, which operates Liverpool Science Park. This investment is expected to boost Liverpool’s science and technology spin-outs, start-ups and SMEs.

Sciontec is now jointly owned by Liverpool City Council, Liverpool John Moores University, the University of Liverpool and Bruntwood SciTech. Sciontec is a spin-out company of Knowledge Quarter Liverpool – a strategic and placemaking organisation which is overseeing a GBP2 billion development programme in the city’s world-leading innovation district.

Mark Beardwood, DLA Piper’s North West Office Managing Partner, said: “This deal marks the end of an 18 month process which started with Sciontec inviting interest from potential investors before Bruntwood SciTech was eventually selected as the joint venture partner. While the lockdown posed a number of logistical challenges, these were overcome to secure completion of a transaction that is a cornerstone of the Liverpool City Region’s growth agenda. We are delighted to have been able to assist in securing this key investment into the city in such difficult times.”

The DLA Piper team in the North West was led by Intellectual Property and Technology partner Sarah Bell, who was assisted by legal director Gemma Cowap, and associate Matthew Cliff. Corporate advice was provided by senior associate Michael Hudson, associate Ben Wilson and trainee solicitor Bella Chan.