Aviva and mixed-use developer Socius announced today the two have been selected as the preferred bidder to advance the development of the leading cancer research and treatment district worldwide at the London Cancer Hub (LCH) in Sutton, London.
In collaboration with the landowner London Borough of Sutton, Aviva and Socius will work closely with the Institute for Cancer Research, London, the Royal Marsden NHS Foundation Trust, and Epsom & St Helier University Hospitals NHS Trust on this multi-phase development. It encompasses a 1-million-square-foot life sciences district situated on a five-hectare site.
The London Cancer Hub is expected to bring significant social and economic benefits, including the creation of 13,000 highly skilled jobs in health, science, education, and construction.
This marks the latest commitment from Aviva Capital Partners (ACP), Aviva’s in-house capital unit that originates infrastructure assets using Aviva group capital. ACP's investments contribute to economic growth, job creation, and the provision of essential community facilities.
“Aviva is investing significantly in critical areas of the UK economy such as housing, green energy, and healthcare. We are using our capital to generate long term income for our customers and help the UK to grow. The London Cancer Hub will provide world-class cancer research and bolster the UK's ambition to be a leader in the Life Sciences sector,” Aviva CFO Charlotte Jones said.
Recently, Aviva also made headlines with the announcement that it is purchasing American International Group Inc.’s UK protection business for £460 million in a deal that would expand the UK insurer’s presence in the local market.
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