The Island Quarter project is valued at £1.4bn and is a mixed-use development. Credit: aslysun via Shutterstock.

London-based real estate investment company Conygar has received planning approval from Nottingham City Council for bioscience development in the UK.

The approval is for the detailed application submitted for the next phase of the Island Quarter development project.

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The submitted application consists of a 249,000ft² bioscience facility, designed by Nottingham-based CPMG Architects, which includes a laboratory and office space.

Permission for this project is conditional regarding documentation on Section 106 of the agreement.

Conygar CEO Robert Ware said: “We are delighted that the next phase of development has been approved.

“Nottingham is already home to a large number of exciting businesses in the bioscience space and this scheme will be an excellent addition to the mixed-use development we are creating at the Island Quarter.”

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The Island Quarter is a £1.4bn mixed-use development project. The 36-acre site will be completely redeveloped to include new residences, office spaces, creative spaces, a hotel, PRS apartments, co-working spaces, retail units, a linear park, a community and event area, as well as student housing.

Construction on the 12-storey, 693-bed student living accommodation complex at the site has already begun, with completion scheduled for late 2024.

Midlands-based construction company Bowmer+Kirkland is the project partner for the student accommodation phase. The first residents will be welcomed onto the site in September 2024.