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.

Top 5 Relocation Tips:

Moving the business to new location or locations is a process best undertaken with a great deal of planning and forethought.  Commercial relocation is so much more than moving your house, its obvious isn’t it, but you would be surprised how many organisations approach this activity full of confidence due to someone having moved their own home last year, only to fail in spectacular fashion, costing the business dearly.

Here are my top 5 tips for your relocation project:

• Team:  Pull together your in house and professional team early on.  The fundamental requirement for the project team is to have delegated authority to make project decisions.  You will undoubtedly have a project Board with the overall Company authority, but the ability for the Project team to act within bounds is paramount. 

• Programme & Timing:  Your relocation project will almost certainly culminate in one or more moves over a series of weekends or a holiday period.  Planning for your project can start at either end of the scale.  Either working back from a mission critical end date, perhaps the expiration of the existing lease period, or working from the start, based on the longest lead time elements and the date you determine to launch the project.  Either way you cannot start the overall planning too soon.  Informal planning will have been taking place for some while but this needs to be pulled together at the earliest opportunity so that all aspects can be captured and detailed.

• Communication:  Early on in the project you will need to determine your communication strategy with staff and stakeholders.  As a source of rumour and misinformation, there are few better catalysts than a relocation project to stoke the fires!  Planning and implementing an integrated communication plan will greatly assist the project, both in terms of staff satisfaction and also in terms of buy in and co-operation.

• IT and Communications:  Make sure your IT and communications teams are fully engaged from the start.  We have seen projects that have started off in fine form, bringing the communications teams in at a later date, only to find there are practical technical matters that have been overlooked and the project suffers delays and cost overruns.

• Have a clear out!:  Develop time in the programme to encourage staff to have a good clear out of filing cabinets, old machinery, cupboards, loose boxes, equipment, records, files, obsolete bits and bobs and the many other things that will cost money to move, cost money to house and then cost money to move next time!  There will be opportunities to recycle, sell, donate, dispose and, in the process, contribute to the organisations corporate social responsibility agenda.

James Alexander Consultants can help you with your relocation project.

eMail us on innovation@jaltd.co.uk or see our contact page for our numbers.  We look forward to speaking with you.

More news from the Pharma front:

It is understood that Allergan, the international healthcare and pharmaceutical company has commenced a search for new headquarters in the Thames Valley.  Currently located at Marlow’s International business park Allergan are said to be considering suitable accommodation in the, Reading, High Wycombe, Slough, Bracknell and Uxbridge areas. 

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.