Novartis appoints PharmaVentures to oversee sale of Horsham site

Novartis has appointed transaction advisory firm PharmaVentures to oversee the planned sale of its UK site in Horsham.

The company announced in February 2014 that it will be closing the Horsham facility this year following a global review of research locations and a consultation process with associates, with research operations at the centre to cease by the end of June.

PharmaVentures will provide expert advice on the feasibility of the various options Novartis is now considering, which include reusing part of the site as a science or business park, ensuring highly skilled jobs continue to be created in the area in future.

It has already been confirmed that the northern part of the site, which is currently used as a car park, has been sold to the developer Linden Homes.

Dr Fintan Walton Chief Executive PharmaVentures said "Novartis has built state-of-the-art facilities suitable for pharmaceutical/life science or other high technology businesses. With such high-quality facilities, we expect interest from both universities and research institutes."

Novartis will continue to employ more than 2,500 people and be a major inward investor to the UK following the Horsham closure.