Mission Street and BentallGreenOak to create 23-acre ‘science district’

Development will boost life sciences sector by delivering significant lab space in Cambridge

In a boost to the UK’s life sciences sector, Mission Street and BentallGreenOak (BGO) will deliver a science and innovation campus in Cambridge, following the acquisition of a 23-acre site on the city’s Coldham’s Lane.

It represents the fifth and largest acquisition by the specialist science and innovation development venture since the partnership formed in January 2021. Furthermore, the platform now has a development pipeline of over 1m square foot of lab and office space in UK locations, with initial schemes in Oxford and Cambridge due for completion by mid-2023.

Artem Korolev, founder and chief executive officer of Mission Street, commented: “This new acquisition provides the potential to deliver the most centrally located science and innovation district in Cambridge. The site will provide the opportunity to deliver our vision for the next generation of commercial science real estate in the UK: integrating the scheme into Cambridge’s urban fabric, with collaboration and sustainability at its heart. We look forward to working with the stakeholders and local community as we work through our plans.”

Toby Phelps, managing partner at BGO, concluded: “We continue to have conviction that the science and innovation sector in the UK will be a source of growth and opportunity for strategic, purpose-driven real estate investment. Cambridge is at the epicentre of this dynamic industry and the current severe shortage of specialist space highlights the opportunity we see in the sector.”

“We are looking forward to working with our partner, Mission Street, and the broader Cambridge business and governmental community to bring this exciting project to fruition,” he added.

Source link