The London Borough of Sutton has confirmed the selection of insurer Aviva and developer Socius as partners to advance the development of a leading district for cancer research and treatment at the London Cancer Hub (LCH) in Sutton, London.
The investment includes the long lease sale for development by Aviva and Socius of a five-hectare site adjacent to the Royal Marsden hospital. The partnership will deliver 1m sq ft of research, treatment and innovation spaces alongside residential accommodation and amenities for local people and visitors.
Cllr Ruth Dombey OBE, Leader of the London Borough of Sutton, said: “The Council has secured highly credible partners and after much work it will position Sutton as a global centre of science excellence.
“The Hub will bring huge opportunities to Sutton, London and the rest of the UK through the creation of thousands of new jobs, education opportunities and space for new cancer research. It will attract investment and make Sutton a destination as home to an internationally-recognised centre for the treatment and cure of cancer, discovering new drugs and, most importantly, saving lives.”
The site, known as the London Cancer Hub, is already ranked number one in Europe for cancer research and treatment. The new development will deliver major social and economic benefits for the UK, contributing circa £1.2bn to the UK economy and £12m increase in business rates. 13,000 jobs in health, science, education and construction will be created as part of the project, as well as space for start-up, growing and established businesses.
Charlotte Jones, Aviva’s Chief Financial Officer, said: “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 and Socius have commenced community and stakeholder engagement with a view to submitting a planning application in late 2024.
