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3M to sell its Morley Street, Loughborough, site and relocate business to Charnwood Campus
LATi members, 3M announced today that it is selling its Morley Street site and will relocate employees during Quarter 4 2017 to a leased office facility, two miles away, on the Charnwood Campus in Loughborough.
3M has occupied the historic former hosiery mill building since the early 1950s. However, the company believes the time is right to move the 170 people based there to new premises that reflect the company’s position as a global, science-based technology company and can support its future growth and development plans.
“The Morley Street facility has served us well for many years,” said Simon Holmes, country business leader for 3M’s Health Care Markets division, “and we believe that this prominent landmark site is an attractive development opportunity for prospective purchasers.
“3M remains committed to Loughborough as the centre of its UK health care business and we are excited about moving to a new location with upgraded facilities in line with our current and future business needs.”
The move marks the first of a two-phase project to enhance 3M’s operations in Loughborough. Phase two will see the relocation of its Research & Development (R&D) Laboratories, currently housed on the Derby Road site to the Charnwood Campus during Quarter 3, 2018.
Commenting on the announcement, Gosia Khrais, commercial and marketing director for Charnwood Campus said, “Charnwood Campus is delighted to welcome 3M as a future occupier of the site. This reinforces our position within the life sciences sector and strengthens the offering as a world-class R&D base.
“As an Enterprise Zone and potential Life Sciences Opportunity Zone, Charnwood Campus is a central part of Loughborough and a significant addition to the Government’s Midlands Engine for Growth proposition.”
The Morley Street site, which provides 70,000 square feet of buildings plus four acres of land, is being marketed on 3M’s behalf by its global property advisors Cushman & Wakefield. The site has flexibility of potential future use including residential and retail development, subject to planning consent.
3M will continue its manufacturing and distribution operations at the company’s Derby Road site, where more than 600 people are based. The site produces drug delivery systems and medical products. The site has benefited from significant investment in recent years to provide extra capacity to support growth of its branded and generic product portfolios and is an integral part of 3M’s global supply chain organisation.
3M apply science in collaborative ways to improve lives daily. With $30 billion in sales, their 90,000 employees connect with customers all around the world.
The UK and Ireland is home to one of the largest 3M subsidiaries outside the USA, employing 2,700 people across 19 locations, including eight manufacturing sites.
Products manufactured in the UK include coated abrasives, personal safety equipment, adhesive tapes, industrial microbiology products, drug delivery systems and high-performance coatings.
About Charnwood Campus
Charnwood Campus is a cutting edge science, technology and enterprise park that offers world-class second to none flexible laboratories, specialist manufacturing facilities and small and large office space. A wide range of amenities, technical and clinical resources meet the diverse needs of businesses from a variety of sectors.
Set in 70 acres of landscaped grounds, the park combines nature with modern facilities to create the ideal conditions for innovation partnership opportunities.
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