Additionally, Bruntwood SciTech is seeking planning to redevelop a former office building into 109 flats for young graduates working in the life sciences and technology sectors on the campus.

Bruntwood SciTech aims to build 100,000 sq ft of lab space over a building of five floors suitable for both chemistry and biology uses.

The separate new office building will provide 100,000 sq ft of workspace across six floors, offering coworking, serviced, leased, and made and managed spaces to create a collaborative environment where tech and innovative businesses can colocate together.

In addition to the ongoing £247m investment, which has seen a complete redevelopment of the Park, this will be the first newly-built commercial space to be delivered since acquiring the site in 2014.

The new office building will include flexible meeting rooms, lounge areas, an impressive outdoor terrace and a hospitality offering, providing new amenities for all of the Alderley Park community.

Dr Kath Mackay, Director of Life Sciences, Bruntwood SciTech said: “The life sciences sector has seen major growth in the UK over the last decade, with the UK now seeing a significant lack of available lab space, which has the potential to hamper further growth if supply is not boosted.

“It is vital that we play our role in supporting investment into specialist infrastructure – unlocking growth to meet this growing demand, and keeping knowledge and innovation within the UK – which is what we are doing at Alderley Park and at our other life science campuses across the UK’s regions.”

The proceeds raised following the sale of residential plots at Alderley Park will be reinvested into the new developments, which will further provide market-leading lab and office space in the North of England.

Bruntwood SciTech’s development team consists of Avison Young, Bridge Architects, Fairhurst Design Group, Leach Rhodes Walker, Buro Happold, Booth King, RBA and Planit-IE.