Sciontec Developments, a key player in Liverpool's science and technology property sector, has announced a significant increase in profits for its 2024 financial year. The company, which operates major innovation hubs across the city, saw its pre-tax group profits more than double, signaling strong growth and resilience in the region's commercial property market.
The annual accounts reveal a combined turnover for Sciontec and its subsidiary, Liverpool Science Park (LSP), of £3.4 million, alongside a substantial rise in the value of its property portfolio. This performance underscores the increasing demand for specialized lab and office space within Liverpool's Knowledge Quarter.
Key Takeaways
- Sciontec's pre-tax group profits more than doubled to £331,000 in 2024, up from £131,000 in 2023.
- Total turnover for Sciontec and Liverpool Science Park reached £3.4 million, a slight increase from £3.3 million the previous year.
- The company's property investment value grew from £13.8 million to £15.5 million.
- Future plans include the Hemisphere development at Paddington Village, which will provide new state-of-the-art bio-labs for the city.
Detailed Financial Performance for 2024
Sciontec Developments has released its annual accounts for the year ending in 2024, showcasing robust financial health. The company, which began trading in 2020, has demonstrated consistent progress. According to the report, the combined turnover for Sciontec and its subsidiary operations, including the well-established Liverpool Science Park, was £3.4 million.
This figure represents a modest but steady increase from the £3.3 million reported in 2023. However, the most notable metric is the company's profitability. Pre-tax profits for the group surged to £331,000. This is more than double the £131,000 profit recorded in the preceding year, highlighting a significant improvement in operational efficiency and financial management.
2024 Financials at a Glance
- Total Turnover: £3.4 million
- Pre-Tax Profit: £331,000 (a 152% increase from 2023)
- Property Value: £15.5 million
This growth reflects the strong demand for the specialized facilities that Sciontec provides to the science, technology, and health sectors. Even in what has been described as a challenging economic climate, the company has successfully expanded its financial base.
Strategic Asset Growth and Portfolio Expansion
A key factor in Sciontec's successful year is the growth in the value of its property assets. The company’s property investment portfolio increased in value from £13.8 million in 2023 to £15.5 million in 2024. This £1.7 million rise demonstrates the appreciating value of its strategic holdings within Liverpool's Knowledge Quarter (KQ Liverpool).
Sciontec's portfolio includes several key innovation hubs:
- Liverpool Science Park (LSP): The company owns the three buildings that constitute LSP, a cornerstone of the city's scientific community.
- The Spine: Sciontec operates its flexible, all-inclusive serviced office product, Sciontec AI, within this landmark building at Paddington Village.
- Central Tech: In May 2025, the company launched Central Tech near Lime Street Station. This facility was formerly Sensor City, which was transferred to Sciontec's ownership and subsequently rebranded and relaunched.
The successful transformation of Sensor City into Central Tech is highlighted as a major achievement, with expectations of further growth in turnover and profitability in the current financial year. This strategic move has expanded Sciontec's footprint and diversified its offerings to tech startups and scale-ups.
Who is Sciontec?
Sciontec Developments Limited was established in 2020 as a spin-out company from Knowledge Quarter Liverpool (KQ Liverpool). It is a partnership between four major city stakeholders: Liverpool City Council, Liverpool John Moores University, the University of Liverpool, and Bruntwood SciTech. Its mission is to provide high-quality lab and office space to foster innovation and growth in the region's knowledge-based industries.
Leadership Commentary on Success and Future Ambitions
Leaders at Sciontec have expressed confidence in the company's trajectory and its role in shaping Liverpool's economic landscape. Professor Mark Power, Chair of Sciontec and Vice-Chancellor at Liverpool John Moores University, commented on the positive results.
“This is another impressive set of results for Sciontec, which is still a relatively new business. Liverpool Science Park is thriving and the transformation of Sensor City into Central Tech is proving to be a great success, with further exciting plans to be announced in the coming year.”
Professor Power's statement emphasizes the success of both established assets like LSP and newer ventures like Central Tech. His remarks suggest a pipeline of further developments that will continue to build on this momentum.
Colin Sinclair, CEO of Sciontec and KQ Liverpool, attributed the success to the dedicated work of his team and a focus on customer needs.
“Our team works tirelessly to create and maintain the perfect environment for businesses to grow, from the one-person tech start-up to the multinational life sciences company. Even in a tough economic climate there is opportunity – for both us and for our customers – and together we are transforming the commercial property landscape in Liverpool.”
Sinclair's comments reflect a proactive approach, seeing opportunity for growth despite wider economic pressures. He stressed that Sciontec is making Liverpool a more attractive place to start, scale, and operate a business.
Looking Ahead: The Hemisphere Project and Bio-Lab Expansion
Sciontec is not resting on its recent success. The company has ambitious plans for the coming years, with a clear focus on addressing a critical need within the region's life sciences sector. Colin Sinclair provided a glimpse into these future projects.
“As we head into 2026 we are bringing forward even more exciting plans, including our new office and lab development, Hemisphere on Paddington Village, which includes much needed new bio labs,” he announced.
The Hemisphere development represents a significant new investment and a crucial piece of infrastructure for Liverpool's health and life sciences cluster. The provision of new, high-specification bio-laboratories is expected to attract further investment and talent to the city, supporting companies working on cutting-edge research and development.
This forward-looking strategy indicates that Sciontec aims to be a long-term catalyst for growth in Liverpool's knowledge economy. By providing the physical infrastructure necessary for innovation, the company is playing a central role in positioning Liverpool as a leading UK city for science and technology.