Colworth Park owned by Unilever and Goodman to be taken over by Palmer Capital and Wrenbridge
A MAJOR research site used by Unilever since 1947 is to be taken over by private firms, Palmer Capital and Cambridge-based company, Wrenbridge.
Colworth Park, currently owned in a joint venture between Goodman and Unilever, is one of Unilever’s major global research and development sites, and currently employs around 600 people.
Palmer Capital will build on the back of its recent success in developing Discovery Park in Kent, where it is a partner in the consortium that owns the park.
With Unilever’s staying on at Colworth Park, the plan is to increase the offices and laboratory space available, and to attract new companies to the park to sit alongside Unilever and other occupiers already benefitting from what it has to offer.
The target is to create 500 new jobs over the next 5 five years.
Alex Price, from Palmer Capital, said: “The business plan for Colworth Park is to work closely with Unilever and other key tenants onsite to ensure the park continues to thrive, attracting new companies and further investment. We have a track record in delivering growth and believe this acquisition will further bolster our credentials.”
Clive Gristwood, from Unilever, added: “Colworth continues to be a site of global strategic importance for Unilever and is the primary base for refreshment research and development covering ice cream brands like Walls, Magnum and Cornetto and the world’s largest tea brand in Lipton, and PG Tips in the UK.”