Colworth Science Park
Colworth Science Park Making the intangible, tangible

Colworth Science Park

The company

The Colworth Park Limited Partnership was a 50/50 joint venture between global property experts Goodman and multinational consumer goods company Unilever.

The Partnership held the long lease hold interest in the 91 acre Colworth Park, near Sharnbrook in Bedfordshire which was predominantly let to Unilever and used by them for global Research and Development with a particular focus on Refreshment.

Research work streams at Colworth include Sustainability, Health & Wellness, Measurement and Digital Science and the site has a long history of product development including household brands such as Birds Eye, Clear Blue, Dove, Twister, Magnum, Lipton and PG tips.

In addition to Unilever the park is home to approximately another twenty diverse third party companies involved in both complimentary and independent fields of work. Many of these are based in the Partnerships newest building on site, The Exchange, which comprises the Catering and Conferencing facility for the site and an Innovation Centre. 

Strategic requirement

The departure of the Science Park Director in late Summer 2013 came at a time when the future of the Joint Venture was uncertain (it has since been marketed for sale) and the Partnership required a solution to provide on-going management and direction for the development of the Innovation Centre (The Exchange) and a continued presence in the scientific and innovation arena. 

The Solution 

Wesley Randle was already involved at Colworth Park in an innovation management capacity and was approached to see if a solution to our requirement was possible.  Tacit Fusion was ultimately appointed under a short term agreement to provide both the Innovation and Exchange management duties on behalf of the Partnership.  Tacit’s approach was flexible, strategic and commercially focused.  Tacit quickly developed a revised marketing and operational methodology for the Exchange.    

Successful outcomes for the company

Tacit Fusion have taken responsibility for day-to-day JV duties both internally and externally and secured a number of new tenants for the Exchange Building.

Tacit have taken responsibility on behalf of the Partnership for reviewing and managing the operational and financial performance of Sodexo (outsourced catering and conferencing provider) and this has directly resulted in a return to profit of the conference centre in February 2014.

Comment

“Wesley and Tacit’s flexible and commercial approach has enabled increased activity and profitable operation during a time of significant change allowing us to concentrate on the future ownership structure for the site.”

Richard Potter – Property Services Director Goodman Real Estate Adviser UK Ltd