The Howard de Walden Estate invests £52m in new HealthTech development as part of healthcare evolution

• Howard de Walden today announces the launch of Hale House, its first flagship buildings for HealthTech, in partnership with Spacemade
• Anchor occupier, UCLPartners, will occupy the first floor in the new development at 76-78 Portland Place
• The Howard de Walden Estate aims for the Harley Street Health District to become the world’s leading destination for health and innovation

LONDON, 31 October 2024

The Howard de Walden Estate (HdWE) today announces a £52m investment in flagship buildings for health innovation and discovery, centered on Hale House. Hale House will be delivered in partnership with Spacemade, the UK’s fastest growing flexible workspace operator. Initially comprising three buildings, with a total of 38,000 sq ft, HdWE aims for Portland Place to emerge as a leading London location for HealthTech start-ups, investors and venture capital firms.

HdWE has committed in excess of £52m to the project across the three initial buildings, including the substantial reconfiguration of each, transforming the spaces to appeal to occupiers in the HealthTech industry. 

The launch of Hale House and the associated space for HealthTech reflects HdWE’s ongoing commitment to invest and grow its portfolio. As technological and societal changes affect the delivery of healthcare for both patients and clinicians, HdWE is committed to working with new companies, policy advisers, capital providers and support services that are shaping better healthcare.

HdWE also announced today that UCLPartners will be the anchor occupier at Hale House, situated on the first floor at 76-78 Portland Place. UCLPartners is one of the UK’s leading health innovation partnerships, at the forefront of transforming healthcare through collaboration, and patient-focused innovations. They also oversee delivery of the NHS Innovation Accelerator, which catalyses growth of small enterprise across the NHS. 

Located within the Harley Street Health District (HSHD), which is managed by HdWE and London’s leading cluster for healthcare since 1860, today’s announcement marks an evolution in HdWE’s approach to healthcare, as it seeks to offer a wider spectrum of ‘whole health services’ encompassing specialist hospitals, outpatient clinics, and state of the art healthcare facilities in preventative care and aftercare. The HSHD aims to be a world leading location for whole health and innovation. 

HdWE’s healthcare portfolio is its largest sector by income and value. As the sector continues to evolve and adapt, the HSHD will continue to be improved through refurbishments and redevelopments that meet occupiers’ operational requirements and ensure its continued success. 

Mark Kildea, Chief Executive Officer at The Howard de Walden Estate commented:

“The re-launch of the Harley Street Health District marks a natural evolution in our approach to healthcare as we respond to changing patient needs and industry shifts.

“Our investment in Hale House and the important signing of UCLPartners is hugely complementary to this strategy and is a key step forward as we look to develop space for health innovation and affirm our commitment to the Harley Street Health District as London’s only cluster of ‘whole health’.”

Richard North, Head of Commercial Lettings at The Howard de Walden Estate, added:

“This is a hugely exciting project to have been a part of, particularly as we reach this pivotal step in the evolution of our healthcare strategy.

“As part of Howard de Walden’s commitment to the highest standards in design, social impact and sustainability, Hale House is targeting BREEAM Excellent, NABERS 4.5* and Fitwel standards. It will also provide first-class amenity space for the community, including a large roof terrace, 90-person auditorium, café, conferencing and meeting rooms, a dry lab, gym, a podcast studio and a content creation room”

Chris Laing, Chief Executive Office at UCLPartners said:

“I am very excited that we are establishing our new base in Hale House as an anchor occupier. I have been very impressed with The Howard De Walden Estate's ambitious vision to build a world leading health innovation cluster in Marylebone and I’m delighted we are joining them on this journey. UCLPartners works across the health innovation development pipeline, supporting health and economic growth. Our new base will help us connect the health technology and life science sectors with healthcare providers, patients and the public, developing novel solutions that will define the healthcare of the future.” 

The Howard de Walden Estate is today hosting its 2024 Healthcare Conference on 31 October, bringing together health industry leaders, policy makers, cutting-edge start-ups, and pioneering researchers to explore transformative ideas and innovation in the HealthTech and healthcare industries.

Jonny Rosenblatt, Co-Founder at Spacemade added:

“Our mission from the outset of this project has been to create the UK’s most collaborative HealthTech cluster and develop a thriving ecosystem where startups, investors and supporting services can come together to reshape the future of healthcare for the better. 

Industry specific spaces like the Hale House, are the future of coworking and the broader office market. With space for over 600 members and facilities to enhance their working activity we want to unite the brightest minds in HealthTech under one roof. By fostering these meaningful connections we aim to accelerate innovation and ultimately improve the healthcare landscape.”