Cheshire East is stumping up ten per cent of the cash towards the sale of Alderley Park.

Council leader Michael Jones has said the deal to buy the AstraZeneca site at Nether Alderley will secure it as a 'world-class bioscience hub'.

It's been announced today that the site is being sold to science park operator Manchester Science Parks (MSP) with Cheshire East Council buying a 10 per cent stake in the project and placing a three per cent investment in MSP.

It could create up to 5,000 jobs.

It follows the announcement last March that AstraZeneca was to cease its R&D work at Alderley Park.

AstraZeneca agreed to retain 700 jobs on the site but remove 2,300 R&D staff, with 1,100 of these roles moved to a new site in Cambridge.

A task force involving Cheshire East and other partners has since been attracting new bioscience companies to the site.

Coun Michael Jones, Cheshire East leader, said: “This is a vindication of a year of co-ordinated, cross-boundary, Task Force-led, MP-supported innovative action with AstraZeneca to save Alderley Park and jobs.

“Last March, AstraZeneca announced it was moving its UK-based R&D and world HQ to a new site in Cambridge and removing some 2,300 jobs from its nearly 3,000-strong workforce from Alderley Park, with 700 staying at the site.

“Since then the council and the AstraZeneca bio-hub team, working with local partners have developed the hub to entice 20 companies into the site, bringing about 500 jobs on board – and a further 1,000 jobs in the pipeline.

“What is unique about this opportunity is that it’s not only a centre with vast facilities but also a centre with significant hi-tech equipment in place, unique infrastructure and a ready supply of highly-skilled workers.

“This is a national centre, if not a European centre, for bio-sciences and I am delighted that the new owners are fully engaged with the vision for the bio-hub and Alderley Park.

“By investing alongside key public sector partners, such as Manchester City Council and the Manchester universities, Cheshire East is sending out a clear message to the Government that it fully supports Alderley Park and puts working innovatively and collaboratively at the heart of its economic policies to deliver increasing prosperity for all the people of Cheshire East – and value for money for our local taxpayers.

“We now look forward to working with MSP to ensure the Alderley Park bioscience hub becomes a powerhouse that leads the way, not just in Britain but globally – and delivers future-proof jobs, growth and innovative technologies for the North West and UK.”

Coun Jones also welcomed the recent investment at the AstraZeneca Hurdsfield site.

He said: “This further exemplifies why Alderley Park is unique in having not only its own facilities but also being in a hi-tech corridor – from Waters’ world leading mass spectrometer site in Wilmslow, to AstraZeneca’s manufacturing operation in Hurdsfield – which is home to some of the worlds leading science businesses.

“We have worked hard to achieve this result and this is just the beginning of a very exciting future, which the new owners are suggesting could lead to the creation of up to 5,000 jobs.”

Twenty companies are currently located at Alderley Park and AstraZeneca has agreed to release an additional 50,000sq ft of space.

The sale of the site is due to be concluded by March 31.

MSP is majority owned by Manchester property developer Bruntwood, with other stakeholders being Manchester and Salford councils and Manchester’s two universities.

The value of the deal was undisclosed.