Earls Court regeneration scheme gets £6bn climate tech boost
The former Earls Court exhibition site is set to receive a whopping £6bn investment to build a host of new offices and development space centred around the climate tech sector.
Some 2.5 million square feet of workspace and lab-enabled offices are set to be built on the derelict exhibition centre, with the first slew of developments due to be ready for occupation by 2028.
It comes as research shows that the climate tech sector is worth $100bn (£82bn) in Europe but currently has no official home in the UK.
Earlier this year it was announced that the 40 acre site in Zone 1, which was once home to the Brit Awards, would be transformed into a hub which will host 4,500 new homes and both a leisure and events space.
Rob Heasman, chief of the Earls Court Development Company, said: “The clean and climate tech sector presents a huge opportunity for the UK.
“The sector has been doubling in size year on year in Europe and in the UK. We have a focus on creating the skilled green jobs of tomorrow. However, there is currently no clear home for the growing industry and the skills required for it.”
Previously, ECDC said that the “aspiration” is for the whole development to incorporate the first large-scale zero carbon energy sharing network in the UK, enabling local people to benefit from cost effective heat networks.
The first phase of development, comprising 1,300 homes, the park and east-west connections will commence in 2025.
Heasman continues: “With 2.5 million square feet of workspace, from maker spaces, lab-enabled offices to large campus opportunities, the site will be an incubator for innovation, making it a magnet for academia, commercial occupiers, start-ups and creatives.”