Aviva and Socius to develop the world’s leading cancer research district in Sutton

Aviva and mixed-use developer Socius announce they have been selected as preferred bidder to advance the development of the world’s leading district for cancer research and treatment at the London Cancer Hub (LCH) in Sutton, London. 

Aviva and Socius will partner with landowner London Borough of Sutton, and work closely with the Institute for Cancer Research, London, the Royal Marsden NHS Foundation Trust and Epsom & St Helier University Hospitals NHS Trust on the multi-phase development, which consists of a one million sq foot life sciences district on a five hectare site. 

Further investment and development will create a state of the art life science district dedicated to research and treatment of cancer. The London Cancer Hub will deliver major social and economic benefits including 13,000 highly skilled jobs in health, science, education and construction.

The LCH exemplifies the Council’s Ambitious for Sutton priorities by driving strong and fair economic growth, supporting job creation, education and skills development, and allowing Sutton residents to access world class health services.

Professor Paul Workman, Harrap Professor of Cancer Pharmacology and Therapeutics at The Institute of Cancer Research, London, said: “We’re confident that new commercial space here at The London Cancer Hub will deliver great benefits – by encouraging innovative collaborations between academics, clinicians, and industry, by facilitating the kinds of breakthroughs that can only come from working across scientific and organisational boundaries, and by providing the new treatments for people with cancer that are so urgently needed.”

This is the latest commitment from Aviva Capital Partners (ACP), Aviva’s in-house capital unit which originates infrastructure assets using Aviva group capital. ACP’s investments grow the economy, create jobs and support much needed community facilities.

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.”

Barry Jessup, Managing Director of Socius, said: “This is a once in a generation opportunity to deliver a sustainable campus for excellence in cancer research. Our vision is to build on the ground breaking facilities already provided by Institute for Cancer Research and Royal Marsden Hospital with a new eco-system of labs, R&D and commercial facilities in a campus setting that will attract researchers and scientists from around the world and accelerate the development of ground-breaking cancer treatments. We look forward to working with Aviva, London Borough of Sutton and key local stakeholders to develop our plans for the site.”

Cllr Ruth Dombey OBE, Leader of Sutton Council, said: “I’m delighted we have reached this stage in the process and I look forward to completing the deal and seeing the next phase of our ambitions for the London Cancer Hub delivered. The Centre will bring many benefits to Sutton, London and the rest of the UK through the creation of high quality jobs, education opportunities and space for growing businesses. It will also make Sutton home to an internationally recognised centre for the treatment and cure of cancer, discovering new drugs and most importantly, saving lives.”

Dame Cally Palmer, Chief Executive of The Royal Marsden NHS Foundation Trust, said: “We are privileged to have an exciting blend of scientific and clinical expertise at Sutton that consistently translates innovative ideas in drug discovery from the laboratory to the clinical setting for the benefit of cancer patients worldwide. The London Borough of Sutton’s vision for The London Cancer Hub and invitation to biotech industry to move into commercial space onsite will strengthen our flourishing research community and create new opportunities for us to collaborate on developing cancer treatments for the future.”

Gillian Norton, Chairman, St George’s, Epsom and St Helier University Hospitals and Health Group, said: “The Trust is excited about the potential of so many health-related facilities - our new hospital, new life sciences investment through the London Cancer Hub, and The Royal Marsden NHS Foundation Trust - sharing a site, amenities and infrastructure.”

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About Aviva Capital Partners:

• Aviva Capital Partners (ACP) is Aviva’s in-house capital unit that utilises the company’s financial strength to invest in a range of infrastructure projects and deliver returns for our retirement customers.
• ACP takes on a broader spectrum of risks where our equity can unlock larger scale assets.
• For more details on ACP, visit Aviva Capital Partners.

About Socius:

• Socius is a developer of mixed-use places. We anticipate the socio-economic trends that impact how we live, work and travel. We use this as the catalyst to create and reshape places.
• Socius have been operating as a B Corporation since our inception to ensure that our whole team (including professional teams) prioritise a triple bottom line approach and are taking into consideration all stakeholders in decisions that we make. 

Socius has a £1.5bn pipeline of projects including a mixed-use neighbourhood and a work/live campus in Cambridge city centre; the redevelopment of the former AMEX House in Brighton; the £215m regeneration of Soapworks in central Bristol, and MK Gateway, a future-focused development of workspace and homes in the centre of Milton Keynes. 

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Notes

• We are one of the UK’s leading Insurance, Wealth & Retirement businesses and we operate in the UK, Ireland and Canada. We also have international investments in India and China.
•  We help our 18.7 million customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
• We have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2022, we paid £23.2 billion in claims and benefits to our customers. 
• Aviva is a market leader in sustainability. In 2021, we announced our ambition to become Net Zero by 2040, the first major insurance company in the world to do so. This plan means Net Zero carbon emissions from our investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of our investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from our own operations and supply chain by 2030. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability
• While we are working towards our sustainability ambitions, we acknowledge that we have relationships with businesses and existing assets that may be associated with significant emissions. More information can be found at https://www.aviva.com/sustainability/climate/
• Aviva is a Living Wage, Living Pensions and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at https://www.aviva.com/about-us/our-people/
• As at 30 June 2023, total Group assets under management at Aviva Group were £358 billion and our estimated Solvency II shareholder capital surplus was £7.8 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
• For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us