Unilever has begun construction of a new UK-based enterprise hub, The Exchange, which will be located in Colworth Science Park, Bedfordshire.
The development, which will offer 21,000 sq ft of dining, conference and meeting space as well as a 35,000 sq ft innovation centre, is expected to be completed in January 2011.
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The move has been funded by a GBP13.7m (US$20.5m) investment from Unilever and property group Goodman.
“The development of The Exchange at Colworth is a major milestone for Unilever’s Open Innovation strategy and will help us to leverage a wider knowledge base to drive growth in our business,” Dr Genevieve Berger, chief research and development officer at Unilever, said.
