Yorkshire commercial property developer Wykeland Group has secured an £80m-plus investment by global medical technology business Smith+Nephew.
Subject to planning approval, Smith+Nephew has announced it will build a new research and development and manufacturing facility for its Advanced Wound Management franchise at Wykeland’s Melton West business park in East Yorkshire.
The location is just eight miles from Smith+Nephew’s current site in Hull, where the business has been located for more than 100 years. The new facility is expected to open in 2024.
The investment will create a world-class R&D, manufacturing and flexible office environment, which is expected to support more than £8bn of sales in its first 10 years of operation.
Melton West business park has been selected for the investment because of its proximity to the existing Hull facility. It also offers a site with the size and established infrastructure to accommodate the new facility and is allocated under the East Riding of Yorkshire Local Plan for developments of this kind.
Dominic Gibbons, Managing Director of Hull-based Wykeland, owner and developer of Melton West, said: “We are delighted the strategic, long-term investments we have made in the infrastructure at Melton West business park have enabled Smith+Nephew to stay within the region and make such a huge investment in a state-of-the-art new facility.
“Smith+Nephew is one of the region’s leading employers, with a proud local history and heritage. This investment will open an exciting new chapter in that story.”
Simon Fraser, president of Advanced Wound Management for Smith+Nephew, said: “This major investment demonstrates our commitment to the UK and to building our leadership in Advanced Wound Management.
“Smith+Nephew was founded in Hull in 1856 and we are proud to make this major investment in the region for future generations.”
