Cambridge BioPharm all over again

Earlier in the year we reported on the acquisition of Granta Park in Cambridge by BioMed Realty Trust.  The specialist REIT (www.biomedrealty.com) own or have interests in assets in excess of 12.5 million ft² ($4bn +) almost entirely in the USA, specifically in bio hubs in Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania, and New York/New Jersey.  BioMed has an exacting specification for portfolio acquisitions and it is interesting to note that Granta Park represents one of what is believed to be a very small number of offshore assets.

More news from Cambridge’s BioPharm community this week, breaking from the good people at Estates Gazette (www.egi.co.uk), regarding the continuing progress of Cambridge's BioMed Campus, the healthcare village that now has outline planning consent for 70 acres.  Project Director, Jeanette Walker, is seeking an opportunity to put the first spade in the ground by securing a prelet for 35-40,000 ft² of commercial space.  This would allow for construction of up to 100,000 ft² which, Interestingly, is not being seen as solely for BioMed / Pharma type businesses.  Great store is placed on the opportunity that this development could offer for skills transfer and working across different sectors.  There are currently commitments for occupation from Papworth Hospital, University of Cambridge, the School  of Clinical Medicine, the Medical Research Council, Addenbrookes Hospital and Rosie Hospital.

Cambridge Bio

A frisson of excitement ran throught the Cambridge real estate market last week as the purchaser of MEPC’s Granta Park was revealed.  US based REIT BioMed Realty Trust has secured the asset, paying a rumoured £133 million, one of the biggest single asset deals outside of London this year.

The story was broken last week in Estates Gazette (www.egi.co.uk) and, in follow up blogs, have speculated as to whom it was that represented BioMed in the deal, no names have been confirmed as yet.  The deal is expected to have been finalised just before the long weekend so the jubilee celebrations were not interrupted!!

BioMed (www.biomedrealty.com) own or have interests in assets in excess of 12.5 million ft² ($4bn +) almost entirely in the USA, specifically in bio hubs in Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania, and New York/New Jersey.  As specialist investors and owners in this sector BioMed has an exacting specification for portfolio acquisitions and it is interesting to note that Granta Park represents one of what is believed to be a very small number of offshore assets.