Barwood Capital has partnered with investor Gen Two Real Estate to acquire lab space and industrial units in Whittlesford, South Cambridge for £12.8 million.
Barwood has acquired two income-producing laboratories, let to Alchemab Therapeutics and Constructive Bio, as well as two adjoining industrial warehouses totalling 38,500 sq ft. Its plans are to reconfigure those into best-in-class, fitted laboratory space.
The site, acquired through Barwood’s Regional Property Growth Fund V, is six miles south of the city centre and part of the South Cambridge science cluster, one of the most significant in Europe.
Nearby road connections include the J10 of the M11 as well as access to the A505, A10 and A1.
Jonathon Ellerington, investment director for Barwood, said: “The acquisition provides an excellent opportunity to reconfigure underutilised properties in a key, strategic location, and in a sector which is underpinned by strong underlying tailwinds.
“In addition to the quality of the existing laboratory space, this is an excellent opportunity to reconfigure additional units into sustainable, best-in-class laboratory space in the leading BioTech and life sciences cluster.
“The refurbishment and reconfiguring of these units will also serve to improve the area and provide employment opportunities.
“It will also support life sciences businesses to grow through providing exceptional laboratory space at a time when the market is starved of supply.”
Daniel Sterling, co-founder of Gen Two Real Estate, said: “Teaming up with Barwood is a fantastic step forward for our business, allowing us to create a new BioTech hub at Whittlesford Parkway Station.
“Providing high quality self-contained units located in the heart of the South Cambridge science cluster attracting occupiers from surrounding world leading science parks.”
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